Biden administration set to award billions in subsidies to semiconductor companies.

The Biden administration is reportedly set to announce subsidies totaling billions of dollars for major semiconductor companies, including Intel and Taiwan Semiconductor Manufacturing Co (TSMC), to support the construction of new semiconductor factories in the United States. The subsidies are aimed at boosting the manufacturing of advanced semiconductors crucial for smartphones, artificial intelligence, and defense systems. The announcements are anticipated in the coming weeks, with some expected before President Biden’s State of the Union address on March 7. Potential recipients include Intel, TSMC, Samsung Electronics, Micron Technology, Texas Instruments, and GlobalFoundries.