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Technology Stocks : Semi Equipment Analysis

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Dec 11 4:00 PM EST

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From: Julius Wong	3/9/2024 10:12:32 AM
	1 Recommendation of 95573

TSMC likely wins $5B federal grant for Arizona chip plant: report Mar. 08, 2024 12:46 PM ET By: Brandon Evans, SA News Editor PhonlamaiPhoto/iStock via Getty Images Taiwan Semiconductor Manufacturing Company (NYSE: TSM) looks to be the beneficiary of a $5B federal grant for a chipmaking center in Arizona, according to a report by Bloomberg on Friday. Although the money is not yet finalized, people familiar with the matter said TSMC is likely the beneficiary, according to the report. TSMC said it “has been making steady progress in productive ongoing discussions with the U.S. government on incentive funding,” according to Bloomberg. The news comes just one day after Intel ( INTC) was named the likely recipient of a $3.5B grant from the U.S. government to make advanced semiconductors for military and intelligence programs. The money is part of the larger $39B Chips and Science Act grant pool which is aimed at boosting semiconductor manufacturing in the U.S. TSMC was down less than 1% by Friday afternoon trading. Intel dipped 3%. Micron Technology ( MU) is also expected to receive billions in grant funds as. It was flat Friday.

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