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  • NEWS Desk Global

US WILL ANNOUNCE BILLIONS IN SUBSIDIES FOR ADVANCED CHIPS




Top semiconductor companies like Intel and Taiwan Semiconductor Manufacturing Co so that they could build new factories in US. The forthcoming announcements aim to kick-start manufacturing of advanced semiconductors that power smartphones, artificial intelligence, and weapons systems. Biden's administration is expected to award billions of dollars in subsidies.

The executives expect some announcements to come before Biden's State of the Union address on March 7. Intel has projects underway in Arizona, Ohio, New Mexico, and Oregon that will cost more than $43.5 billion. For a total investment of $40 billionTaiwan Semiconductor Manufacturing Co has two plants under construction near Phoenix. South Korea's Samsung Electronics which is also a contender, has a $17.3 billion project in Texas.

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