The world’s largest contract chip maker TSMC has announced that it will maintain its U.S. investment plans following Donald Trump’s election as the next U.S. president.
In an email statement to Reuters on Thursday, TSMC said that its investment plans in the U.S. remain unchanged but did not give any further information. TSMC, which is a major supplier for companies like Apple and Nvidia, is currently investing US$65 billion in a new facility in Arizona.
In April, TSMC’s U.S. subsidiary received a US$6.6 billion dollar subsidy under a preliminary agreement with the United States Department of Commerce to support advanced semiconductor production in Phoenix, Arizona. According to two sources familiar with the matter, TSMC, Global Foundries, and other chipmakers are set to receive their final allocations from the Biden administration's Chips and Science Act.
TSMC has seen strong stock performance this year, largely due to surging AI demand. However, Trump has previously criticized Taiwan in his campaign, accusing it of taking U.S. semiconductor business and suggesting tariffs should have been imposed on its imports.