The United States Commerce Department is finalizing awards under the Chips and Science Act for TSMC, GlobalFoundries, and another chipmaker to boost US semiconductor production.

The act, passed in 2022, plans to allocate US$37 billion for expanding semiconductor companies in the US.

Thus far, Polar Semiconductor finalized an award worth US$123 million for facility upgrades in Minnesota.

However, prior provisional agreements included US$6.6 billion for TSMC’s Arizona facility and US$1.5 billion for GlobalFoundries’ new and expanded plants in New York and Vermont.

Recent Taiwan Semiconductor Manufacturing developments