Washington: President Donald Trump announced that Taiwan Semiconductor Manufacturing Company (TSMC) would invest USD 100 billion in the United States. In a joint press conference with TSMC's C.C. Wei, Trump stated that the investment was crucial for US national security, emphasizing that the partnership would allow the US to control around 40 percent of the global chip making market. He added that this new announcement brings TSMC's total investment in the US to approximately USD 165 billion.
According to Kuwait News Agency, TSMC is one of the largest chipmakers globally, having initiated its chip manufacturing operations in the US in 2020 with a project in Arizona worth USD 12 billion. Following that, two additional factories were established, collectively valued at USD 65 billion. The Wall Street Journal reported that TSMC plans to introduce advanced semiconductors to the US for the first time outside of Taiwan.