On Monday, the U.S. Commerce Department announced it was awarding Taiwan Semiconductor Manufacturing Company (TSMC) a $6.6 billion CHIPS Act subsidy for the fabrication of computer microchips in Phoenix, Arizona. TSMC will also receive up to $5 billion in low-cost government loans. In return, TSMC will expand its planned investment from $40 billion to $65 billion and add a third Arizona fabrication site by 2030. The company will be producing the world’s most advanced 2 nanometer technology at its second site starting in 2028. The Commerce Department anticipates the development will create...