Taiwan Semiconductor Boosts US Investment After Government's Major Push Towards Self-Reliance

• Taiwan Semiconductor Manufacturing Company Ltd (NYSE: TSM) eyed a second semiconductor factory in Arizona and increased its investment there to $40 billion, the White House said ahead of a visit by President Biden.

• The leading contract chip maker and Apple Inc (NASDAQ: AAPL) supplier stepped up its plans for U.S. manufacturing with encouragement from the U.S. government and likely financial support from U.S. taxpayers, the Wall Street Journal reports.

• Under a previously disclosed $12 billion investment plan, TSMC is already building its first factory in Arizona.

• The White House shared details of a second factory planned for the site, saying construction would start in the coming year and production would begin in 2026.

• The second factory will make chips with 3-nm, and TSMC's total investment in Arizona will expand to $40 billion.

• The U.S.'s landmark $52 billion federal program to boost domestic chipmaking was a powerful stimulant for TSMC.

• TSMC recently started making 3-nm chips in Taiwan.

• The White House said the first TSMC factory in Arizona, which initially was supposed to produce 5-nm chips, would also make 4-nm chips. That factory will likely start mass production in 2024.

• TSMC plans to keep the most advanced manufacturing in Taiwan.

• TSMC described challenges at the Arizona site, like unexpected construction obstacles.

• TSMC won Apple and Nvidia Corp (NASDAQ: NVDA) as customers of the first Arizona plant.

• Price Action: TSM shares traded lower by 0.21% at $81.45 in the premarket on the last check Tuesday.

• Photo Via Company

See more from Benzinga

• Taiwan Semiconductor Wins Apple, Nvidia As First Customers Of Arizona Plant: Report

• Key Apple Supplier Foxconn Ropes Taiwan Semiconductor Chip Veteran For Newly Created Role

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