By the end of the year, the company will already have $1 billion of the funding in hand, according to the New York Times. The funds will supplement $65 billion in funds that TSMC

The White House on Friday announced it had finalized an agreement with a major semiconductor manufacturer to invest billions of dollars in facilities in Arizona as President Biden looks to cement parts of his legislative legacy before leaving office in January.

Commerce Department has finally agreed to release $6.6 billion to help fund the Phoenix plant being built by TSMC. Trump has criticized the plan.