TSMC is confident its CHIPS Act funding will continue under Trump, says CFO Wendell Huang
TSMC has been promised $6.6 billion under the Biden-administration's CHIPS and Science ACT to help build three cutting-edge chip fabrication plants in Arizona.
U.S. President-elect Donald Trump has accused Taiwan of "stealing" his country's chip industry. But Taiwan's biggest chip company is confident the Trump administration will continue funding its projects in the U.S.
Taiwan Semiconductor Manufacturing Co has been promised $6.6 billion under the Joe Biden administration's CHIPS and Science ACT to help build three cutting-edge chip fabrication plants in Arizona as part of U.S. efforts to onshore chip manufacturing.
Speaking to CNBC's Emily Tan in an exclusive interview, TSMC Chief Financial Officer Wendell Huang said the funding was expected to continue to roll in gradually under Trump as the fabrication plants pass construction and production milestones.
"As a matter of fact, in the fourth quarter, we already received the first batch of government support," Haung said, revealing the contract chip manufacturer had got $1.5 billion in funds.
Following some production delays, the first fabrication plant in Arizona started producing advanced chips in the fourth quarter of last year, Huang said. He added that the construction of two plants in Arizona was on track, with the second expected to be operational in 2028.