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Massive $53B US chip fund grant announcements expected within weeks

Apple chip partner TSMC may soon benefit from the 2022 Chips Act, with the $53 billion grant pool expected to be tapped within the coming weeks.

Processor wafers [TSMC]
Processor wafers [TSMC]

The CHIPS for America Fund, also known as the Chips Act, was approved in 2022 as a way to build up the U.S. semiconductor industry, via the issuing of grants and loans to companies in the space. Over a year later, funds may finally get awarded.

The Biden Administration is anticipated to award billions from the $53 billion pool to chip makers including Intel, TSMC, and others to construct factories in the U.S., reports the Wall Street Journal.

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