| 13 April 2024, Saturday |

Biden to visit Taiwanese chip manufacturer TSMC’s Arizona plant on Dec. 6

On December 6, U.S. President Joe Biden is scheduled to visit the Arizona facility of Taiwanese chip giant TSMC to discuss the administration’s efforts to increase U.S. semiconductor production.

According to Reuters, Taiwan Semiconductor Manufacturing Co Ltd (2330.TW), the world’s largest contract chipmaker and a significant supplier to Apple Inc (AAPL.O), is building a $12 billion plant near Phoenix, Arizona. On December 6, the business will host a “tool-in” ceremony in Arizona.

Morris Chang, the founder of TSMC, stated last week that although the plans have not yet been fully finalized, the company intends to create chips using cutting-edge 3-nanometer technology at its new factory in Phoenix.

The most valuable listed firm in Asia, TSMC, has declared that construction is underway in Arizona for a prospective second factory. The corporation started building in the middle of 2021.

Concerns over Taiwan’s over-reliance on the island have been raised in light of Taiwan’s leading position as a manufacturer of semiconductors used in technology ranging from cell phones and cars to fighter jets, especially as

Both the United States and Europe are putting up billions of dollars in incentives to get companies to make chips closer to home, courting Taiwanese firms in particular.

In August, Biden signed legislation funding $52.7 billion for semiconductor chips manufacturing and research. The “Chips and Science” law also includes an investment tax credit for chip plants estimated to be worth $24 billion.

By subsidizing U.S. chip manufacturing and expanding research funding, the law aims to alleviate a persistent shortage that has affected everything from cars and weapons to washing machines and video games.

  • Reuters