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On April 8, the world’s largest chipmaker from Taiwan, TSMC, won a $6.6 billion US subsidy for producing the most advanced 2 nanometer processor chips. The latest investment under the CHIPS and Science Act of 2022 will support TSMC's $65 billion investment in building three fabrication facilities in Phoenix, Arizona, US. These chips will drive the next wave of tech revolutions like artificial intelligence, data centres, smartphones, and high-performance computing.
The US is going all out to set up chip fabrication plants in order to be less reliant on other economies. A couple of weeks ago, the country's biggest chipmaker, Intel, also received the largest grant of $8.5 billion for building new facilities in Arizona and Ohio while upgrading existing facilities in New Mexico and Oregon. It will invest up to $100 billion in chip facilities over the next five years. Intel CEO Pat Gelsinger hopes his company becomes the world’s second largest chip manufacturer by 2030, displacing Korean chip giant Samsung Electronics.