Taiwan’s TSMC says US investment plan is unchanged after election

CHIPMAKER Taiwan Semiconductor Manufacturing Company’s (TSMC) investment plan in the United States remains unchanged, the company said, responding to a question on the election of Republican Donald Trump as the next US president.

“Our investment plan in the US remains unchanged,” the company said on Thursday (Nov 7) without elaborating.

TSMC, the world’s largest contract chipmaker and a major supplier to companies including Apple and Nvidia , is investing US$65 billion in new factories in the US state of Arizona.

Trump, while on the campaign trail, accused Taiwan of stealing American semiconductor business.

In April, TSMC’s US unit was awarded a US$6.6 billion subsidy for advanced semiconductor production in Phoenix, Arizona, in a preliminary agreement with the Commerce Department.

TSMC, GlobalFoundries and at least one other chipmaker are poised to receive their final Chips and Science Act awards from the Biden administration, two sources briefed on the matter said this week.

TSMC’s shares have so far batted off concern about Trump’s election, and have performed strongly so far this year given soaring demand for artificial intelligence.

On Thursday, the company’s American Depositary Receipts closed up 4.1 per cent, after Nvidia’s shares rallied to a record high, making the chipmaker the first company in history to surpass a stock market value of US$3.6 trillion. REUTERS