TSMC Maintains U.S. Investment Plans Post-Election

Taipei - Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest contract chipmaker, has confirmed that its investment strategy in the United States remains unchanged following the recent U.S. presidential election. This statement comes amidst concerns regarding the election of Republican Donald Trump as the next President of the United States.

TSMC is currently investing $65 billion in new manufacturing facilities in Arizona, a move that aligns with their long-term strategic goals. The company's U.S. unit was previously awarded a $6.6 billion subsidy for advanced semiconductor production in Phoenix, Arizona, as part of a preliminary agreement with the Commerce Department. This investment is part of the broader initiative supported by the U.S. Chips and Science Act.

Despite Trump's previous campaign accusations against Taiwan for allegedly taking away American semiconductor business, TSMC's shares have remained resilient. The company's American Depositary Receipts recently saw a 4.1% increase, bolstered by Nvidia's record-breaking market performance, which has driven a surge in demand for artificial intelligence technologies.

Furthermore, TSMC, along with GlobalFoundries and other chipmakers, is expected to receive final awards from the Biden administration under the Chips and Science Act, which aims to enhance domestic semiconductor production capabilities.