The Biden administration is racing against time to finalize billions in funding agreements for chipmakers before Donald Trump assumes office, given his criticism of the CHIPS Act.
With over 90% of the subsidies allocated, only two binding agreements have been established, indicating a pressing need for the Biden administration to secure funding before the year's end.
Commerce Secretary Gina Raimondo stated that the goal was to allocate all $39 billion of the subsidies by the end of the year, crucial before a potential policy shift.
The finalized $6.6 billion subsidy for Taiwan's TSMC is a significant move to bolster semiconductor funding, as the administration secures agreements ahead of the incoming Trump administration.
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