Samsung and TSMC urge the US to allow $52 billion chip plan

According to a recent report, Samsung and TSMC, the two largest semiconductor manufacturers in the world, are seeking a portion of these multi-billion pool government subsidies. However, Intel has reportedly suggested that the Biden administration should not pass US taxpayer money to foreign companies.

As per the report, the US government is preparing a $52 billion federal program to boost semiconductor chip production in the country. The show is currently in the final stages of finalization, but there is already some tension over it.

The TSMC has also called on the US government to improve immigration policy. It will attract more foreign talent to the country and help promote innovations. The Taiwanese company believes that instead of reflecting the current supply chain, the Biden administration should focus on developing advanced technologies to enhance competitiveness.

All major semiconductor manufacturing companies have begun work to increase their production capacity in the US. TSMC is building a $12 billion factory in Arizona, while Samsung has selected Texas for a $17 billion chip plant. Meanwhile, Intel has announced an investment of $20 billion for a chip hub in Ohio and two new plants in Arizona.

The Biden administration has now come up with another lucrative program to strengthen the domestic semiconductor supply chain, $52 billion is a huge amount. It is not surprising that foreign companies such as Samsung and TSMC have been tempted to acquire a portion of these funds. But domestic companies like Intel are not satisfied with this.