WASHINGTON (news agencies) — Chip giant Taiwan Semiconductor Manufacturing Co. plans to invest $100 billion in the United States, President Donald Trump said Monday, on top of $65 billion in investments the company had previously announced.
TSMC, the world’s biggest semiconductor manufacturer, produces chips for companies including Apple, Intel and Nvidia. The company had already begun constructing three plants in Arizona after the Biden administration offered billions in subsidies. Its first factory in Arizona has started mass production of its 4-nanometer chips.
Trump, who appeared with TSMC’s chief executive officer C. C. Wei at the White House, called it a “tremendous move” and “a matter of economic security.”
“Semiconductors are the backbone of the 21st century economy. And really, without the semiconductors, there is no economy,” the president said. “Powering everything from AI to automobiles to advanced manufacturing, we must be able to build the chips and semiconductors that we need right here in American factories with Americans skill and American labor.”
Wei said the investment will be for three more chip manufacturing plants, along with two packaging facilities, in Arizona.
The $165 billion investment “is going to create thousands of high-paying jobs,” Wei said.
Former President Joe Biden in 2022 signed a sweeping $280 billion law, the CHIPS and Science Act, to try to reinvigorate chip manufacturing in the U.S., especially after the COVID-19 pandemic.
During the pandemic, chip factories, especially those overseas making the majority of processors, shut down. It had a ripple effect that led to wider problems, such as automobile factory assembly lines shutting down and fueled inflation.
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