Shares of the semiconductor giant, Taiwan Semiconductor Manufacturing Co Ltd. (NYSE: TSM) were down in pre-market trading on Wednesday after a Wall Street Journal report that the company has pushed back on some of the conditions the U.S. government has attached to chip-factory subsidies. The company is seeking around $15 billion from the U.S. Government.
Taiwan Semi had announced back in December that it had tripled its planned investment in the Arizona plant to $40 billion to diversify its manufacturing facilities and is seeking funds from the CHIPS Act legislation.
According to the report, Taiwan Semi, however, is concerned about rules that could require it to “share profits from the factories and provide detailed information about operations.”
Analysts remain bullish about TSM stock with a Strong Buy consensus rating based on four unanimous Buys.