The world's largest semiconductor manufacturer, Taiwan Semiconductor Manufacturing Company (TSMC), said on Tuesday that it will increase investment in its business in the US state of Arizona by $3.5 billion
MOSCOW (Pakistan Point News / Sputnik - 14th February, 2023) The world's largest semiconductor manufacturer, Taiwan Semiconductor Manufacturing Company (TSMC), said on Tuesday that it will increase investment in its business in the US state of Arizona by $3.5 billion.
In November, the company reportedly announced plans to build another $12 billion semiconductor manufacturing plant in the state.
"Approved the capital injection of not more than US$3.5 billion to TSMC Arizona, a wholly-owned subsidiary of TSMC," the company said in a statement.
The US government recognized the country's significant dependence on TSMC products in a 2021 supply chain review. According to the Capital Economics research group, TSMC produces more than 90% of the most advanced microchips in the world.
In August 2022, US President Joe Biden signed an executive order to implement the $280 billion CHIPS and Science Act of 2022, which includes more than $52 billion in subsidies for US semiconductor manufacturers in an effort to counter China's growing technological clout.
