The U.S. Commerce Department said Friday it has finalized a $6.6 billion government subsidy for Taiwan Semiconductor Manufacturing Co's U.S. unit for semiconductor production in Phoenix, Arizona.

The Biden administration has finalized Taiwan Semiconductor Manufacturing Company’s (TSM) Chips Act incentive funding to support its U.S. fabrication sites.

The White House is racing to finish grant agreements for chip manufacturers, but some of its biggest successes might be credited to the Trump administration.