Joe Biden Just Trump-Proofed His Hallmark CHIPS Act [Video]

In a move to secure America’s semiconductor industry, President Joe Biden‘s administration has finalized a $6.6 billion award to Taiwan Semiconductor Manufacturing Company (TSMC) for the construction of chip factories in Phoenix, Arizona.

The announcement comes just two weeks after President-elect Donald Trump‘s victory, signaling an effort to lock in the deal before the new administration takes office.

TSMC, the world’s largest contract chipmaker and supplier to major technology companies, including Apple, NVIDIA, AMD, and Qualcomm, plans to invest $65 billion to build three state-of-the-art semiconductor fabrication plants in Arizona.

These facilities are expected to create thousands of jobs and strengthen the United States’ position in the global semiconductor supply chain. The first TSMC plant is expected to be fully operational within a few months.

“For the first time in decades, an American manufacturing plant will be producing the leading-edge chips used in our most advanced technologies,” Biden said.

The $6.6 billion award to TSMC is part of the CHIPS and Science Act, one of Biden’s …