07:32 AM EST, 11/07/2024 (MT Newswires) -- Taiwan Semiconductor Manufacturing ( TSM ) , GlobalFoundries ( GFS ) , and one or more other chipmakers are close to receiving their final Chips and Science Act grants from Washington, Reuters reported Wednesday, citing people briefed on the matter.

The US Commerce Department has notified lawmakers that at least three companies are about to receive their final awards, Reuters reported.

Taiwan Semiconductor, GlobalFoundries ( GFS ) and a third company were among 21 awarded around $37 billion in preliminary grants meant to convince chipmakers to expand US production, the report said.

President-elect Donald Trump has spoken out against the grants.

Taiwan Semiconductor, GlobalFoundries ( GFS ), and the Commerce Department did not immediately reply to MT Newswires' requests for comment.

(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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