U.S. government investing in semiconductor market to triple manufacturing, benefiting Micron Technology and TSMC

From Nasdaq MarketSite: 2024-05-15 08:10:00

The U.S. government is focusing on the semiconductor market, investing $30 billion in grants and $25 billion in loans to seven companies to triple manufacturing capacity by 2032. Micron Technology, benefiting from $6.1 billion in funding, plans to expand its chip production to meet high demand, potentially tripling its stock price by 2032.

Taiwan Semiconductor Manufacturing Company received $6.6 billion in direct funding and $5 billion in proposed loans to bolster its U.S. expansion, including building a third fabrication plant in Arizona. With a plan to spend a substantial amount on advanced process technologies for AI chips, TSMC stands to benefit from the booming semiconductor market forecasted to triple by 2032.



Read more at Nasdaq MarketSite: U.S. Chip Manufacturing Could Triple in Less Than a Decade: 2 Stocks That Could Follow Suit