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TSMC's US investment plans to continue
Taiwan Semiconductor Manufacturing Company says it's maintaining its US investment plans, even as Donald Trump is set to return to the White House. Trump has previously claimed Taiwan is taking US semiconductor jobs.
TSMC, the world's top chipmaker and a major supplier for Apple and NVIDIA, is investing US$65 billion to build a factory in Arizona.
Earlier this year, its American subsidiary got a US$6.6 billion subsidy from the country's Commerce Department to support advanced chip production in the US city of Phoenix. However, media reports say TSMC and other chipmakers, like GlobalFoundries, are set to receive the last round of CHIPS Act funding from the Biden administration.
TSMC’s shares have surged this year, fuelled by rising demand for artificial intelligence. NVIDIA stock also hit new highs, bringing its market value to US$3.6 trillion.
