Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo
(Reuters) -President Joe Biden's administration is expected to award billions of dollars in subsidies in coming weeks to top semiconductor companies including Intel and Taiwan Semiconductor Manufacturing Co to help build new factories in the U.S., the Wall Street Journal reported on Saturday.
The forthcoming announcements aim to kick-start manufacturing of advanced semiconductors that power smartphones, artificial intelligence, and weapons systems, the WSJ reported, citing industry executives familiar with the negotiations.
