Biden administration keen to complete negotiations before the end of his term
www.datacenterdynamics.com/en/, Nov. 07, 2024 –
TSMC and GlobalFoundries have reportedly finished negotiating their binding agreements with the US Department of Commerce regarding their CHIPS Act funding.
Citing people familiar with the matter, Bloomberg said that funding for both companies is roughly in line with the preliminary figures announced earlier in the year.
While the report noted that it was unclear when the agreements would be officially signed, in the wake of former and now President-elect Trump's disparaging comments about the CHIPS Act in recent weeks, it's thought that the Biden Administration will want to finalize the deals before the end of his term.
GlobalFoundries was one of the first companies to be awarded funding under the CHIPS and Science Act.