From Fortune:

The US plans to announce major chip grants by the end of March, aiming to send billions of dollars to semiconductor makers to ramp up domestic production. Intel and other chipmakers are expected to receive payments as a part of the 2022 Chips and Science Act, set aside by the US government. President Joe Biden plans to share news of the awards before the State of the Union address.
Governments around the world have invested in similar chip programs. Additionally, a 2020 Senate seat campaign will focus on manufacturing in Ohio, as this state supports a significant factory that may be impacted by the grants.
Both Intel, and overseas chipmakers like TSMC and Samsung are expected to receive the US grants, to aid in building new factories. The funds have been slow to materialize so far, with only two small grants announced more than a year after Biden signed the landmark initiative into law.
Commerce Secretary Gina Raimondo’s agency plans to award about a dozen grants this year, including multibillion-dollar grants for advanced chipmaking facilities. The awards, which could come as a combination of grants, loans and loan guarantees, will cover up to 15% of project costs.
Intel and TSMC plan to build factories in Arizona. The present status will depend on the grants received.



Read more: U.S. to announce big grants for chip plants by end of March