TSMC pledges another $100bn to expand US production in Arizona

Taiwanese chipmaker TSMC said it will invest another $100bn in Arizona as it expands its production in the US. The company announced the pledge as it reported a 77% jump in second-quarter net profits to $22bn from $12.4bn a year earlier. The new commitment raises TSMC's total US investment to $265bn. Chief executive CC Wei said the increase will likely see four new plants built in Arizona, adding to eight already being built or planned. Wei did not give a timeline, saying only that it would depend on the market situation. Wei said the investment will help to further foster the development of the US semiconductor ecosystem, strengthen the supply chain, and support an increasing number of high-tech, high-paying jobs in the United States. The Commerce Department said the move will create tens of thousands of American jobs. Commerce Secretary Howard Lutnick welcomed the plans and said President Trump's leadership is driving companies to invest in American manufacturing. TSMC makes advanced chips designed by companies such as Nvidia and Apple.