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TSMC announces $100 bn investment in new US chip plants / Photo: I-Hwa CHENG - AFP
NYSE - LSE
TSMC announces $100 bn investment in new US chip plants
President Donald Trump said Monday that the chip-making giant TSMC will invest "at least" $100 billion in the United States to build "cutting edge" chip manufacturing facilities, in the latest blockbuster financial pledge by a private company since his return to office in January.
Taiwan Semiconductor Manufacturing Co's new investment will come on top of their existing commitments of around $65 billion, and will go into "building five cutting edge fabrication facilities," Trump said during a White House event flanked by TSMC's chief executive, C.C. Wei.
He added that much of the funding would be invested in the US state of Arizona, where TSMC -- the world's largest chipmaker -- has already invested heavily, and would create "many thousands" of high-paying jobs.
Since regaining the White House, Trump has called on companies to create more manufacturing jobs in the United States, while threatening to impose steep levies on those who do not.
He has invited executives from some of the world's largest companies -- including OpenAI and Oracle -- to the White House to announce investments worth hundreds of billions of dollars in US manufacturing.
TSMC has long faced demands to move more of its production away from Taiwan, and previously pledged to invest more than $65 billion in three factories in Arizona, one of which began production in late 2024.
"We are going to produce many chips to support AI progress, and to support smartphones' progress," C.C. Wei said Monday, confirming the investment.
L.Klein--BlnAP
