Bloomberg said TSMC will receive incentives totaling more than $5 billion for a semiconductor plant in the US.

 Bloomberg said TSMC will receive incentives totaling more than $5 billion for a semiconductor plant in the US.

FILE PHOTO: This image was shot on January 8, 2024, and shows the Taiwan Semiconductor Manufacturing Company (TSMC) logo next to a computer motherboard. Dado Ruvic/REUTERS/Illustration/File Photo

The US government is expected to provide nearly $5 billion in federal funding to Taiwan Semiconductor Manufacturing Co. (TSMC), the largest contract chipmaker in the world, for establishing a chip manufacturing facility in Arizona, according to a Friday Bloomberg News story.

The report cited persons familiar with the subject and stated that the award has not yet been finalized. It is also uncertain if TSMC will take use of the financing and guarantees offered under the 2022 Chips and Science Act.

A Reuters request for comment was not immediately answered by TSMC.