![US to announce billions in subsidies for advanced chips- WSJ](https://i-invdn-com.investing.com/trkd-images/LYNXMPEK0Q04X_L.jpg)
© Reuters. Semiconductor chips are seen on a printed circuit board on this illustration image taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo
(Reuters) -The Biden administration is anticipated to award billions of {dollars} in subsidies to prime semiconductor firms together with Intel (NASDAQ:), and Taiwan Semiconductor Manufacturing Co within the coming weeks to assist construct new factories within the United States, the Wall Street Journal reported on Saturday.
The forthcoming bulletins are geared toward kick-starting manufacturing of superior semiconductors that energy smartphones, synthetic intelligence and weapons programs, the WSJ reported, citing trade executives acquainted with the negotiations.
The executives anticipate some bulletins to come back earlier than U.S. President Joe Biden’s State of the Union handle on March 7, the WSJ report added.
Among the doubtless recipients of the subsidies, Intel has tasks below approach in Arizona, Ohio, New Mexico and Oregon that may value greater than $43.5 billion, the paper mentioned.
Another doubtless recipient, Taiwan Semiconductor Manufacturing Co (TSMC) has two crops below development close to Phoenix for a complete funding of $40 billion. South Korea’s Samsung Electronics (KS:), additionally a contender, has a $17.3 billion mission in Texas.
Micron Technology (NASDAQ:), Texas Instruments (NASDAQ:) and GlobalFoundries (NASDAQ:) rely amongst different prime contenders, WSJ mentioned citing trade executives.
The U.S. Department of Commerce, Intel, and TSMC didn’t instantly reply to Reuters request for remark.
In December final yr, U.S. Commerce Secretary Gina Raimondo mentioned she would make round a dozen funding awards for semiconductor chips inside the subsequent yr, together with multi-billion greenback bulletins that would drastically reshape U.S. chip manufacturing.
The first award was introduced in December, of over $35 million to a BAE Systems (LON:) facility in Hampshire to supply chips for fighter planes, a part of a $39 billion “Chips for America” subsidy program authorized by the U.S. Congress in 2022.