Taiwan Semiconductor Manufacturing Co. and GlobalFoundries Inc. have finished negotiating binding agreements for billions of dollars in grants and loans to support US factories, people familiar with the matter said.

GlobalFoundries won $1.5 billion in CHIPS Act funding about two months before TSMC. The preliminary agreement that the company signed with the Commerce Department specified that the capital would be spent on three facilities in New York and Vermont.

The notification is a sign of progress amid concern about the pace of the award rollout. TSMC, GlobalFoundries and the unidentified third company are among 21 awarded about $37 billion in preliminary agreements through the bipartisan 2022 Chips and Science ...

Two months later, TSMC was awarded $11.6 billion in CHIPS Act funding, made up of $6.6 billion in grants and an additional $5 billion in loans. The chipmaker was already constructing two plants in Arizona to produce 4nm and 3nm semiconductors but under the terms of the deal, TSMC agreed to build a third fab in the state.

Taiwan Semiconductor Manufacturing and GlobalFoundries concluded discussions for billions of dollars in CHIPS Act funding. Read more.

GlobalFoundries and at least two other chipmakers are poised to receive their final Chips and Science Act awards from the Biden administration, a person briefed on the matter said, a sign of progress amid growing concerns about the pace of the award rollout.