01:25 PM EST, 03/08/2024 (MT Newswires) -- Taiwan Semiconductor Manufacturing ( TSM ) , Intel ( INTC ) , Micron Technology ( MU ) and Samsung Electronics are in talks with the federal government for a pool of $28 billion in federal grants to support US projects, Bloomberg reported Friday, citing people familiar with the matter.

Taiwan Semiconductor is expected to win more than $5 billion in grants to support the development a chipmaking project in Arizona, though the award is yet to be finalized, the report said.

The other companies are expected to receive multibillion dollar awards as part of the Biden administration's push to boost semiconductor manufacturing, the report said.

An official announcement for the major advanced chipmakers is expected by the end of this month, the report said.

Taiwan Semiconductor said in a statement it "has been making steady progress in productive ongoing discussions with the US government on incentive funding," Bloomberg reported.

Intel ( INTC ) and Micron declined to comment, and Samsung did not respond to a request for comment, Bloomberg said.

The four companies and the White House did not immediately respond to requests for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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