TSMC pledges another $100 billion to expand US chipmaking capacity
The Taiwanese chip giant’s announcement comes after it posted a 77% hike in second-quarter profit to a record high of USD 22 billion, beating market forecasts.
TSMC plans to spend another USD 100 billion on expanding its manufacturing capacity in the United States, the US Department of Commerce said.
The company also raised its annual revenue forecast after booking record high profits on the back of soaring demand from advanced chips used in AI applications.
TSMC’s fresh investment in Arizona would add to already-announced investments of USD 165 billion to build chip factories there, bringing the total planned investment in the country to USD 265 billion.
The Taiwanese chip giant’s announcement comes after it posted a 77% hike in second-quarter profit to a record high of USD 22 billion, beating market forecasts.
“TSMC’s announcement of an additional $100 billion investment following our historic deal on trade and investment with Taiwan will create tens of thousands of American jobs and bring advanced semiconductor manufacturing back to America,” said US Commerce Secretary Howard Lutnick.
“[W]e believe this investment will further foster the development of the US semiconductor ecosystem, strengthen the supply chain, and support significant job creation in the United States,” said Dr. C.C. Wei, TSMC Chairman and CEO.
