Chip giant Taiwan Semiconductor Manufacturing Co. announced on Monday plans to make an additional $100 billion investment in the United States and build five additional chips factories in the coming years. TSMC CEO C.C. Wei announced the plan in a meeting at the White House with President Donald Trump.

TSMC agreed in April to expand its planned US investment and to add a third Arizona factory by 2030. Read more at straitstimes.com.

TSMC CEO announced the plan with US president, the latest firm to make investment commitments since Trump took office.

WASHINGTON: Taiwanese semiconductor company TSMC announced on Monday (Mar 3) plans to make an additional US$100 billion investment in the United States and build five additional chips factories in the coming years.

Last year, the US Commerce Department finalized a US$6.6 billion government subsidy for TSMC to produce semiconductors in Phoenix, Arizona, while the US$100 billion announced on Monday would be eligible for a 25 per cent manufacturing investment tax credit under the 2022 law.

WASHINGTON: Taiwan semiconductor company TSMC plans to make a fresh US$100 billion investment in the United States that involves building five additional chip facilities there in coming years, its CEO announced with President Donald Trump on Monday (Mar 3).

CEO C.C. Wei credited President Donald Trump for the investments, which will include a new Arizona R&D center.

The company had already begun constructing three plants in Arizona after the Biden administration offered billions in subsidies.

Chipmaking giant Taiwan Semiconductor Manufacturing Company plans to invest at least $100 billion to grow its US manufacturing operations, President Donald Trump announced from the White House on Monday alongside the firm’s CEO C.