By Denny Jacob-- Taiwan Semiconductor Manufacturing is set to win more than $5 billion in federal grants to support a chip-making project in Arizona, Bloomberg reports, citing people familiar with the matter. It also noted that it isn't yet clear whether the contract chip maker will tap the loans and guarantees also on offer from the 2022 Chips and Science Act. -- TSMC, in a statement, said it "has been making steady progress in productive ongoing discussions with the U.S. government on incentive funding," according to Bloomberg. The grants are part of the $53 billion Chips Act, intended to reshore production on advanced microchips and fend off China, which is developing its own chip industry. Full story at https://www.bloomberg.com/news/articles/2024-03-08/tsmc-to-win-more-than-5-billion-in-grants-for-us-chip-plantWrite to Denny Jacob at denny.jacob@wsj.com(END) Dow Jones NewswiresMarch 08, 2024 13:04 ET (18:04 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal March 08, 2024 18:29 UTC