We see S&P500 is very bullish with recent tech innovations. TSMC to up Arizona investment to $40 billion with second semiconductor chip plant
The investment by TSMC is one of the largest foreign investments in U.S. history, and the largest in the state of Arizona.
Semiconductor chips are used in everything from computers and smartphones to cars, microwaves and health-care devices. Once the plants open, they will produce enough chips to meet the U.S. annual demand.
The announcement comes in wake of the passage of the CHIPS and Science Act which was signed into law in early August.
President Joe Biden is joining the founder of Taiwan Semiconductor Manufacturing
Co. on Tuesday to announce the opening of the company’s second chip plant in Arizona, raising its investment in the state from $12 billion to $40 billion.
The company will also announce it will be producing more technically advanced chips than originally proposed. The investment by TSMC is one of the largest foreign investments in U.S. history, and the biggest in the state of Arizona.
Semiconductor chips are used in everything from computers and smartphones to cars, microwaves and health-care devices. The Covid-19 pandemic shined a bright light on U.S. dependence on Chinese manufacturers as lockdowns led to a global shortage of the high-tech chips.
