President Donald Trump announced a $100B chipmaker investment in America on Monday from the Roosevelt Room of the White House.

TSMC will be investing $100 billion in U.S. chip manufacturing.

From The Wall Street Journal:

The investment would be used to build out cutting-edge chip-making facilities. Such an expansion would advance a long-pursued U.S. goal to regrow the domestic semiconductor industry after manufacturing fled largely to Asian countries in recent decades.

TSMC, the world’s largest contract chip maker, set down roots in Arizona in 2020, when it said it would build a chip factory there for $12 billion. Its ambitions for the site have expanded rapidly since, with two more factories on the same site and a total investment of $65 billion. The company’s first factory began mass production late last year.

TSMC’s announcement comes after years of deliberation regarding the future of semiconductor manufacturing in the U.S. and the global tech sector. The company currently builds its most advanced chip-making facilities only on its home soil Taiwan. The chips it produces are critical for powering everything from the latest artificial-intelligence systems to smartphones.

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