(Reuters) - The Biden administration is expected to award billions of dollars in subsidies to Intel(INTC.O), opens new tab, Taiwan Semiconductor Manufacturing Co(2330.TW), opens new tab, and other top semiconductor companies in the coming weeks to help build new factories, the Wall Street Journal reported on Saturday.
The forthcoming announcements are aimed at kick-starting manufacturing of advanced semiconductors that power smartphones, artificial intelligence and weapons systems, the WSJ reported, citing industry executives familiar with the negotiations.