Taiwanese chip giant TSMC has announced plans to invest another $100 billion in Arizona to further expand its U.S. production footprint. It is expected that the new investment will result in four new plants and tens of thousands of jobs.
With this investment, TSMC’s total commitment to the U.S. is $265 billion, which caused second-quarter net profits to jump 77 percent from $12.4 billion to $22 billion year over year.
Strong demand for TSMC’s chips, which are regarded for their quality, has helped to make it Asia’s most valuable company. Its share price has grown by more than 55 percent this year, giving it a stock market valuation of around $2 trillion.
“We believe this investment will help to further foster the development of the U.S. semiconductor ecosystem, strengthen the supply chain, and support an increasing number of high-tech, high-paying jobs in the United States,” TSMC President and CEO Che-Chia Wei said.
