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The U.S. Department of Commerce has recently signed two non-binding preliminary memorandums of terms (PMTs) with semiconductor companies to provide direct funding under the CHIPS and Science Act. One company, the TSMC Arizona Corporation (TSMC Arizona), a subsidiary of Taiwan Semiconductor Manufacturing Company Limited (TSMC), will receive up to $6.6 billion to support the company’s investment of more than $65 billion in three greenfield fabs in Phoenix, Arizona.

The Biden Administration issued an executive order earlier this week that provides guidance on the safe, secure, and trustworthy development and use of Artificial Intelligence (AI) in the U.S. The EO includes guidance for agencies to work to provide new opportunities for small businesses and entrepreneurs in AI and other directives.

The U.S. Department of Commerce and the National Institute of Standards and Technology (NIST) have published a request for information (RFI) to inform the planning and design of potential programs surrounding the semiconductor industry within the United States. Historically, the U.S. accounted for 40 percent of the global semiconductor manufacturing.