Biden administration plans to pay billions of dollars in subsidies to large semiconductor companies -11.91% +0.61% The Biden administration reportedly plans to pay billions of dollars in subsidies to large semiconductor companies, especially Intel and Taiwanese semiconductor manufacturer TSMC. The Wall Street Journal reported Saturday. The subsidies, expected to be announced soon, are intended to boost manufacturing of advanced semiconductors that power smartphones, artificial intelligence and weapons systems, and some announcements are expected this week, according to a WSJ report that industry officials familiar with the negotiations said. The Wall Street Journal reported that possible beneficiaries of the subsidies include Intel and TSMC, which are working on All-Housing projects in Arizona, Ohio, New Mexico and Oregon, which are expected to cost more than $4.35 billion. Other potential beneficiaries include TSMC, which has an expected $40 billion investment under construction near Phoenix, and South Korea's Samsung Electronics, which has a $17.3 billion project in East Texas. In addition, Micron Technology, Texas Instruments, and Global Foundries were mentioned as other major beneficiaries. The U.S. Department of Commerce declined to comment on timing, saying it would not discuss potential applicants. “This is an entitlement-based process through difficult commercial negotiations, fully dependent on projects that will promote the U.S. economy and national security,” a Commerce Department spokesperson told Reuters. TSMC said, “Intel has had no response to the request.” Last December, U.S. Secretary of Commerce Gina Raimondo announced that she would announce about 10 funding subsidies for semiconductor chips by next year, as part of the $39 billion 'Chip for America' subsidy program approved by the U.S. Congress in 2022. It is carried out. The first grant, last December, awarded more than $35 million to BAE Systems' facility in Harshire to produce semiconductor chips for fighter jets, part of a $39 billion 'Chip for America' grant approved by Congress in 2022. It was done as part of a program.