Shares of Taiwan Semiconductor Manufacturing Company (TSM) — commonly referred to as TSMC — are moving higher after the Biden administration announced it will give $6.6 billion in federal grants to the chip maker, as the company adds another $25 billion to its planned investment into the state of Arizona, totaling up to $65 billion in investments into domestic chip operations.
Yahoo Finance Anchors Seana Smith and Jared Blikre break down the latest development for the company in the AI chip space.
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