TSMC adds $100bn to Arizona chip expansion

Taiwanese chipmaker TSMC will invest another $100bn (£74bn) in Arizona, expanding its US production footprint and raising its total commitment to the country to $265bn. The Commerce Department said the move will create tens of thousands of American jobs, while chief executive CC Wei said the increase will likely lead to four new plants in Arizona, adding to the eight already being built or planned.

The announcement strengthens President Donald Trump’s effort to bring more advanced semiconductor manufacturing to the US. TSMC makes advanced chips designed by companies including Nvidia and Apple, and its components are central to AI data centres and smart devices. Wei did not provide a timeline for the new plants, saying construction would depend on the market situation.

The expansion was announced alongside a 77% jump in second-quarter net profits. Profit from April to June rose to $22bn, compared with $12.4bn in the same period a year earlier. TSMC’s share price has climbed by more than 55% this year, giving the company a stock market valuation of around $2 trillion.