TSMC, Samsung Seek To Be Part Of $52B Chip production Boosting Plan

Taiwan Semiconductor Manufacturing Co Ltd TSM and Samsung Electronics Co Ltd SSNLF urged to participate in the $52 billion chip building federal program, Bloomberg reports.
The world's top two contract chipmakers looked to spend billions of dollars building new cutting-edge plants in the U.S.
TSMC argued that arbitrary favoritism based on the location of a company's headquarters for the grant is not an effective or efficient use of the grant.
Also Read: TSMC Founder Considers Washington's $52B Chip Rebuilding Plan Unfeasible; Questions Intel's Intentions
TSMC also emphasized the importance of developing advanced technologies and foreign talent to help drive innovation. Samsung echoed TSMC's comments, Bloomberg notes.
TSMC looked to a $12 billion fab in Arizona, while Samsung focused on Texas's $17 billion plant.
Intel Corp INTC looked to a new $20 billion chip hub in Ohio and two new plants in Arizona.
Price Action: TSM shares traded lower by 0.92% at $105.74 on the last check Monday.