Taiwan Semiconductor Manufacturing Co. (TSMC) and GlobalFoundries, along with another unnamed chipmaker, are reportedly set to receive their final awards under the U.S. Chips and Science Act. The Commerce Department recently informed Congress that three companies are close to securing final agreements,

GlobalFoundries won $1.5 billion in CHIPS Act funding about two months before TSMC. The preliminary agreement that the company signed with the Commerce Department specified that the capital would be spent on three facilities in New York and Vermont.

Taiwan Semiconductor Manufacturing Co. and GlobalFoundries Inc. have finished negotiating binding agreements for billions of dollars in grants and loans to support US factories, people familiar with the matter said.

Two months later, TSMC was awarded $11.6 billion in CHIPS Act funding, made up of $6.6 billion in grants and an additional $5 billion in loans. The chipmaker was already constructing two plants in Arizona to produce 4nm and 3nm semiconductors but under the terms of the deal, TSMC agreed to build a third fab in the state.

Under the Chips Act, the Commerce Secretary must notify appropriate committees at least 15 days before making any deal over $10 million. The notification is a sign of progress amid concern about the pace of the award rollout. TSMC, GlobalFoundries and the ...