TSMC to invest $100b in new US chip plants

WASHINGTON, March 4 (AFP): Taiwanese chip-making giant TSMC will invest at least $100 billion in the United States to build "cutting edge" manufacturing facilities, President Donald Trump said Monday, announcing the latest blockbuster financial pledge by a private company since his return to office.

Taiwan Semiconductor Manufacturing Co's new investment will come on top of their existing commitments, and will go into "building five cutting edge fabrication facilities," Trump said during a White House event, flanked by TSMC chief executive C.C. Wei.

He added that much of the funding would be invested in the US state of Arizona, where TSMC-the world's largest chipmaker-has already invested heavily, and would create "many thousands" of high-paying jobs.

TSMC has long faced demands to move more of its production away from Taiwan, amid fears that supplies of the critical technology could be disrupted in any conflict with Beijing.