The Taiwan Semiconductor Manufacturing Company (TSMC) has reaffirmed its commitment to its $65 billion investment in U.S. semiconductor factories. It's despite President-Elect Donald Trump concerns over Taiwan's role in the U.S. semiconductor industry.
The world's largest contract chipmaker and a key supplier to tech giants like Apple and Nvidia, Taiwan Semiconductor Manufacturing Company (TSMC), has confirmed that its $65 billion investment plan in the U.S. remains unchanged. The company issued a brief statement on 7 November, saying it wanted to reassure investors and the public that its plans for new factories in Arizona are still on track.
It's after the President-Elect DonaldTrump had previously criticized Taiwan’s role in the U.S. semiconductor industry.
The chip maker, which is investing heavily in advanced semiconductor production in Arizona, is poised to receive a substantial $6.6 billion subsidy from the U.S. government for its Phoenix plant as part of the Chips and Science Act. However, in a response about the potential impact of Trump's re-election, TSMC emphasized that its U.S. investment strategy remains unaffected.
While Trump’s campaign rhetoric had suggested concerns over Taiwan’s involvement in the U.S. semiconductor market, TSMC's stock has continued to rise, driven by soaring demand for chips used in artificial intelligence (AI) technologies.
TSMC’s American Depositary Receipts (ADRs) gained 4.1%, after Nvidia’s shares rallied to a record high. It pushed the chip maker’s stock market value to $3.6 trillion making the company the first in history to surpass a value of this amount.
TSMC, along with other chipmakers like GlobalFoundries, is on track to receive final awards under the Biden administration’s Chips and Science Act, a program designed to bolster U.S. semiconductor manufacturing.
Despite political uncertainties, TSMC’s strategic investments in the U.S. underscore the company’s long-term commitment to the global semiconductor industry.
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