Trump announces $100 billion investment in U.S. from TSMC, calls it ‘most powerful company’ in world.

Taiwan Semiconductor Manufacturing will pour $100 billion into bolstering chip manufacturing in the U.S., President Donald Trump announced Monday.

The president called the investment a “tremendous move by the most powerful company in the world.” The new capital brings TSMC’s total investment in the U.S. to $165 billion and will go toward building five new fabrication facilities in Arizona.

The announcement from TSMC, which supplies semiconductors to the likes of Nvidia and Apple for artificial intelligence use, supports the Trump administration’s ongoing efforts to make the U.S. an artificial intelligence hub.

Last month, Trump announced a multibillion-dollar AI infrastructure project with Oracle, OpenAI and Softbank. He’s also made numerous calls to bring semiconductor production back to the U.S. after much of the manufacturing industry moved abroad. Advancing semiconductor production in the U.S. is a matter of economic and national security, Trump said Monday.

TSMC has already made strides to expand its footprint in the U.S prior to Monday’s announcement. The company committed $12 billion in 2020 to build its first U.S. chip factory in Arizona, later raising that investment to $65 billion with a third factory. It has also gained U.S. government support through a $6.6 billion subsidy from the U.S. Commerce Department.

Source: CNBC