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WASHINGTON: The US government is award ing $1.5 billion to GlobalFoundries to subsidize semiconductor production , the first major award from a $39 billion fund approved by Congress in 2022 to bolster domestic chip production . GlobalFoundries, the world's third-largest contract chipmaker, will build a new semiconductor production facility in Malta, New York, and expand existing operations there and in Burlington, Vermont, according to a preliminary agreement with the Commerce Department. The department in January announced a $162 million planned award to Microchip Technology and $35 million to a BAE Systems facility in New Hampshire in December. The $1.5 billion GlobalFoundries grant will be accompanied by $1.6 billion in available loans, with the funding expected to generate $12.5 billion in overall potential investment across the two states, the department said. "The chips that GlobalFoundries will make in these new facilities are essen...

TAIPEI: Taiwanese chipmaker TSMC is planning to produce chips with advanced 3-nanometre Technology at its new factory in the US state of Arizona but the plans are not completely finalised yet, the company's founder Morris Chang said on Monday. Taiwan Semiconductor Manufacturing Co Ltd (TSMC), a major Apple Inc supplier and the world's largest contract chipmaker, is constructing a $12 billion plant in Arizona. Last year, Reuters reported TSMC's plans to build more chipmaking factories in Arizona, including discussions about whether its next plant should be more advanced which could make chips with 3-nanometer technology compared to the slower, less-efficient 5-nanometer chips that will be churned out when the facility begins production. Chang, speaking to reporters in Taipei after returning from the APEC summit in Thailand, said the 3-nanometre plant would be located at the same Arizona site as the 5-nanometre plant. "Three-nanometre, TSMC r...

TOKYO: Japan plans to create tax breaks for domestically-made electric vehicle (EV) batteries and semiconductors from April 2024 to enhance economic security, the Nikkei newspaper reported on Friday. The move would follow similar industrial policies in the United States and European Union aimed at encouraging companies to bring production home from China, and would also facilitate the country's energy transition. For the government's fiscal 2024 tax code revision, the Ministry of Economy, Trade and Industry will propose the tax cuts for companies manufacturing strategically crucial items in Japan, Nikkei said. Akin to the US I NFL ation Reduction Act, the planned scheme would reduce corporate taxes based on output of batteries and chips, according to the Nikkei. The ministry will draft the specifics including applicable items by end of this year, the report said. The Japanese government revises its tax code every spring after the ruling coalition politically ag...