The Biden administration is expected to award billions of dollars in subsidies to top semiconductor companies, including Intel, $INTC, and Taiwan Semiconductor in the coming weeks to help build new factories in the United States

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The Biden administration is expected to award billions of dollars in subsidies to top semiconductor companies, including Intel, $INTC, and Taiwan Semiconductor in the coming weeks to help build new factories in the United States, per WSJ.The Biden administration is anticipated to allocate substantial subsidies, reaching billions of dollars, to prominent semiconductor companies such as Intel and Taiwan Semiconductor Manufacturing Co (TSMC) in the coming weeks. This initiative aims to stimulate the establishment of new semiconductor factories in the United States, particularly focusing on the production of advanced semiconductors vital for applications in smartphones, artificial intelligence, and defense systems. Industry executives familiar with the ongoing negotiations have indicated that certain subsidy announcements may be disclosed before President Joe Biden's State of the Union address scheduled for March 7.Among the probable beneficiaries of these subsidies, Intel is actively involved in projects across Arizona, Ohio, New Mexico, and Oregon, with a combined investment exceeding $43.5 billion. Taiwan Semiconductor Manufacturing Co (TSMC), another likely recipient, is currently constructing two plants near Phoenix with a total investment of $40 billion. Samsung Electronics from South Korea, with a $17.3 billion project in Texas, is also considered a contender for these subsidies. Additional leading contenders, as noted by industry executives, include Micron Technology, Texas Instruments, and GlobalFoundries.As of now, there has been no immediate response from the U.S. Department of Commerce, Intel, or TSMC regarding these reports. In December of the previous year, U.S. Commerce Secretary Gina Raimondo announced plans to make approximately a dozen funding awards for semiconductor chips within the next year. These awards, including multi-billion dollar announcements, are expected to significantly reshape the landscape of U.S. chip production. The initial award, revealed in December, amounted to over $35 million for a BAE Systems facility in Hampshire, contributing to the production of chips for fighter planes. This initiative is part of the "Chips for America" subsidy p