United States poised to unveil billions in chip subsidies.

In Washington, the Biden administration is anticipated to provide billions of dollars in subsidies to leading semiconductor firms like Intel and Taiwan Semiconductor Manufacturing Co, as the Wall Street Journal reported on Saturday. These subsidies are aimed at facilitating the establishment of new factories in the United States. The forthcoming announcements seek to stimulate the production of cutting-edge semiconductors crucial for powering smartphones, artificial intelligence, and defense systems, according to industry insiders familiar with the negotiations cited by the WSJ. Some of these announcements are expected before President Biden’s State of the Union address on March 7. Among the probable recipients of these subsidies, Intel is currently engaged in projects across Arizona, Ohio, New Mexico, and Oregon, with a combined cost exceeding $43.5 billion. Similarly, Taiwan Semiconductor Manufacturing Co (TSMC) has two plants in progress near Phoenix, representing a total investment of $40 billion. Additionally, South Korea’s Samsung Electronics, also in contention, is pursuing a $17.3 billion project in Texas.

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