TAIPEI (dpa-AFX) - Taiwan Semiconductor Manufacturing Company Limited (TSM) is planning to invest an additional $100 billion to expand its chip manufacturing capacity in the United States, according to several media reports.
With this latest announcement, the company's total pledges for investment in Arizona have risen to $265 billion, aiming to boost the development of the U.S. semiconductor ecosystem, strengthen the supply chain, and generate high-tech, high-paying job opportunities in the region.
During the earnings meeting, the company's CEO C.C. Wei stated that an additional four plants would be built in Arizona, along with the eight plants that are being built or planned at present. However, he stressed that the timeline for additional plants would depend on the 'market situation'.
In response to the company's decision, the U.S. Commerce Department stated that ?TSMC's ?additional investment 'highlights the Trump Administration's commitment to strengthening domestic manufacturing and U.S. technological leadership through strategic partnerships and ?investment.'
The additional investment announcement comes as the advanced AI chips producer posted financial results for the second quarter, reporting earnings of NT$706.562 billion, almost double than last year's NT$398.273 billion. Meanwhile, the company's revenue rose to NT$1.270 trillion from NT$933.792 billion in the prior year.
Currently, TSM is trading at $411.08, down 2.03 percent on the New York Stock Exchange.
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