CHIPS Act money is starting to move, but it's going to take years to get results.
President Joe Biden has spent $23 billion of the $39 billion he has to spur chipmaking in the US, spreading it to companies that plan new activities in several states.
The Biden administration said Monday it plans to send $6.6 billion in grants to the Taiwan Semiconductor Manufacturing Company, while the chipmaking giant said it would expand its footprint in Arizona.