Taiwan Semiconductor Manufacturing Co. (TSMC), GlobalFoundries, and one other chipmaker are set to receive their final awards from the Biden administration under the Chips and Science Act, according to a report. This development comes as the U.S. Commerce Department notified Congress, signaling progress despite ongoing concerns about the slow award rollout.
With negotiations on the final awards having been completed, these three companies are among 21 that are close to securing nearly $37 billion in preliminary agreements under the bipartisan Chips and Science Act of 2022, which aims to attract chipmakers from Asia and enhance production in the U.S. Additionally, nearly $3 billion remains to be distributed through these preliminary agreements, Reuters reported.
