Taiwan Semiconductor Manufacturing Co. Stock News

With the tech rally taking things into high gear this year, I'm sure many new retail investors are asking themselves which big name in tech will be next to split.

Taiwan's President Lai Ching-te urged the European Union to sign an economic partnership agreement, emphasising benefits for semiconductor collaboration and democratic solidarity, according to Reuters. Speaking at a Taiwan-EU investment forum in Taipei, Lai highlighted the importance of secure supply chains and mutual resilience in the face of growing authoritarian threats.

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The semiconductor maker is getting the money under the Chips Act. The cash will support the company's planned investment of $65 billion to create a production cluster near Phoenix.

The US Commerce Department has finalised a $6.6 billion subsidy agreement with Taiwan Semiconductor Manufacturing Co. (TSMC) for its chip manufacturing operations in Phoenix, Arizona. This deal is the first major allocation under the $52.7 billion Chips and Science Act introduced in 2022 to bolster domestic semiconductor production.

Taiwan Semiconductor Manufacturing Co. is being awarded up to $6.6 billion in CHIPS Act funding, the Commerce Department said Friday.