Semiconductor giant Taiwan Semiconductor Manufacturing Co. (TSMC) is expected to announce a $100 billion investment on Monday, a White House official told Fox News.
TSMC, a Taiwan-based chipmaker that builds advanced semiconductors which are used to power smartphones and artificial intelligence (AI) models, is expected to announce the investment following meetings with President Donald Trump.
The investment is expected to focus on advanced semiconductor manufacturing facilities over the next four years.
TSMC has previously invested in a chip factory in Arizona with an initial $12 billion investment, and last April it announced an additional investment of $25 billion to add a third factory at its Arizona facility by 2030 to bring its total investment there to $65 billion.Â
The company also received an award of up to $6.6 billion in grants from the CHIPS Act for the Arizona facility as well as other federal funds from the law that aimed to bolster domestic semiconductor manufacturing in the U.S.
TSMC said Monday that it “looks forward to discussing our shared vision for innovation and growth in the semiconductor industry, as well as exploring ways to bolster the technology sector along with our customers.”
Reuters contributed to this report.