BENGALURU (Jan 27): The Biden administration is expected to award billions of dollars in subsidies to top semiconductor companies including Intel, and Taiwan Semiconductor Manufacturing Co in the coming weeks to help build new factories in the US, the Wall Street Journal (WSJ) reported on Saturday. The forthcoming announcements are aimed at kick-starting manufacturing of advanced semiconductors that power smartphones, artificial intelligence and weapons systems, the WSJ reported, citing industry executives familiar with the negotiations. Among the likely recipients of the subsidies, Intel has projects under way in Arizona, Ohio, New Mexico and Oregon that will cost more than US$43.5 billion (RM205.65 billion), the paper said. Another likely recipient, Taiwan Semiconductor Manufacturing Co (TSMC) has two plants under construction near Phoenix for a total investment of US$40 billion. The US Department of Commerce, Intel, and TSMC did not immediately respond to Reuters request for comment.

Source: Wall Street Journal January 27, 2024 13:04 UTC