TSMC, Intel, and Micron must complete CHIPS Act-funded semiconductor fabs by end of 2028

By December 31, 2028, states that received CHIPS Act funding must complete construction of major semiconductor fabs, including TSMC Arizona Fab 2 (2nm-class chips), Intel Ohio Fab 1 and 2, and Micron's New York DRAM facility. CHIPS-funded fab capacity is projected to reach roughly 20% of leading-edge global chip production by 2030, up from nearly zero in 2022. Grant disbursements are tied to construction progress milestones, so delays can trigger clawbacks.