Biden Administration Finalizes $6.6 Billion In Chips Grants For TSMC (thehill.com)
(Friday November 15, 2024 @10:30PM (BeauHD)
from the dash-for-cash dept.)
- Reference: 0175478739
- News link: https://hardware.slashdot.org/story/24/11/15/220219/biden-administration-finalizes-66-billion-in-chips-grants-for-tsmc
- Source link: https://thehill.com/policy/technology/4992410-biden-semiconductor-investment-arizona/
The White House said it's [1]completed a $6.6 billion grant agreement with Taiwan Semiconductor Manufacturing Company (TSMC) through the Chips and Science Act. "Today's announcement is among the most critical milestones yet in the implementation of the bipartisan CHIPS & Science Act, and demonstrates how we are ensuring that the progress made to date will continue to unfold in the coming years, benefitting communities all across the country," Biden said in a statement. The Hill reports:
> The grant is expected to create $65 billion of private investment by TSMC in Arizona, Biden said, which will include three new facilities and the creation of tens of thousands of jobs by the end of the decade. The first of the company's new facilities is on track to open next year. Biden earlier this year announced a slew of preliminary grant agreements with companies, including TSMC, through the CHIPS law. The announcement of a final agreement underscores how the administration is hoping to get those deals across the finish line before President-elect Trump takes office. [...]
>
> Biden has repeatedly touted the importance of the CHIPS and Science Act, citing the prevalence of microchips that are used in everyday technology such as phones, cars, home appliances and more. Officials have said the law is critical to bolster domestic production of the chips to make the U.S. less reliant on foreign supply chains.
[1] https://thehill.com/policy/technology/4992410-biden-semiconductor-investment-arizona/
> The grant is expected to create $65 billion of private investment by TSMC in Arizona, Biden said, which will include three new facilities and the creation of tens of thousands of jobs by the end of the decade. The first of the company's new facilities is on track to open next year. Biden earlier this year announced a slew of preliminary grant agreements with companies, including TSMC, through the CHIPS law. The announcement of a final agreement underscores how the administration is hoping to get those deals across the finish line before President-elect Trump takes office. [...]
>
> Biden has repeatedly touted the importance of the CHIPS and Science Act, citing the prevalence of microchips that are used in everyday technology such as phones, cars, home appliances and more. Officials have said the law is critical to bolster domestic production of the chips to make the U.S. less reliant on foreign supply chains.
[1] https://thehill.com/policy/technology/4992410-biden-semiconductor-investment-arizona/
He needs to get it through (Score:4, Interesting)
Before Trump kills it for the sake of killing it. Just like how all of our epidemiologists got pulled from China just before COVID. China is planning on invading Taiwan in the next two years and if you're reading this you are reading it on a device with the CPU that was made in Taiwan.
It is absolutely insane but we are probably going to let China take Taiwan Just due to sheer incompetence and we're not going to have a proper semiconductor industry before then. So they're basically going to be able to tell us what to do for a good 10 or 15 years if we're lucky... Either that or they wreck our entire economy.
It's as if nobody remembers what the semiconductor shortages did during COVID. Christ people have short memories around here.
Re: (Score:1)
That's not how contract law, or the contract clause of the constitution works.
Besides the one who isn't paying chips act money promised, is Joe Biden to Intel Corp
https://www.oregonlive.com/silicon-forest/2024/11/intel-ceo-blasts-biden-administration-over-chips-act-delays-blames-media-for-irresponsible-takeover-reports.html
Re: (Score:2)
It's cute you think the orange traitor is going to follow contract law.
Re: (Score:2)
Take your meds schitzo. Trump said that companies could avoid tariffs by moving production to America.
-Written on an Intel Xeon laptop CPU from USA.
Re: (Score:3)
To which any other country doesn't care nor does the companies. If you think Trump's tariffs are going to be paid by anyone other than American Consumers, you're an idiot. I'm also sure that Trump will probably make a few sweetheart deals, because that's just the Art of the Deal.
TL;DR: Sit the hell down and Shut the fuck up idiot.
Will Trump pull a fully function (Score:3)
modern chip foundry out of his ass? It's a pretty big ass, but he's got those tiny, tiny hands so...
Trump will be dead and buried before there's any chance of us replicating what Taiwan has now. This isn't like throwing up some apartment buildings for fuck's sake. It'll be 10-15 *years*.
And without subsidies the companies won't do it. Go ahead, do 10,000% tariffs, they'll make you pay it. Because that's how tariff's work!!!
Re:He needs to get it through (Score:5, Insightful)
Why would he do that when he can just sit on his thumbs, let the grant go through, and then take credit for any jobs that appear because of it? His moron fans wont know any better. They'll just see "new jobs happened while Trump was in power" without bothering to check the cause of them. Just like people continue to credit the person in the oval office for how the economy is, ignoring that economic changes generally take longer than a presidential term to take full effect -- most of the time it's the previous guy who is responsible for how things are in current day.
Re: (Score:3)
1. There are little to no jobs. It's a modern factory. About 120 of 'em when it's done being built.
2. He's a vindictive, petty man. Again, he literally pulled viral experts out of China just because Obama put them there.
We put a senile old man who thinks and acts at about a 4th grade level in charge of the country and we gave him control of the courts & Congress. We haven't actually come to terms with that yet.
This is the FAFO stage of our lives. I hope the dream of 99 cent eggs was worth it..
Re: (Score:2)
Little to no jobs? Intel's fab campuses emoloy thousands of people. So do TSMCs.
[1]https://www.tsmc.com/static/ab... [tsmc.com]
TSMC claims they will employ ~6000 people in jobs related to their American fabs.
[1] https://www.tsmc.com/static/abouttsmcaz/index.htm
Re: (Score:2)
How are all those Foxconn jobs doing for ya? Hope ya didn't move to Wisconsin for them.
Re: He needs to get it through (Score:2)
So chip fabs are almost literally money printing machines, but for some reason the US taxpayer had to give a Taiwanese company $6.6 billion to help pay for a fab to print more money?
This isn't a "we'll forgive $6.6 of tax revenue we wouldn't see if you built the fab elsewhere", this is a literal gift of $6.6 Billion.
As a reminder, the CHIPS act also gave $10 Billion to Intel to help the company pay for new Fabs - Intel said thank you, but we won't use the money to build any additional fab capacity, we'll ju