TSMC to win more than $5 billion in grants for a US chip plant, Bloomberg reports

FILE PHOTO: Taiwan Semiconductor Manufacturing Company (TSMC) logo is seen near computer motherboard in this illustration taken January 8, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Taiwan Semiconductor Manufacturing Co (TSMC), the world's largest contract chipmaker, is set to win more than $5 billion in federal grants from the U.S. government for setting up a chipmaking plant in Arizona, Bloomberg News reported on Friday.

The award is yet to be finalized and it is unclear whether TSMC will tap the loans and guarantees also on offer from the 2022 Chips and Science Act, the report said, citing people familiar with the matter.