Taiwan's TSMC says US investment plan is unchanged after election verdict
A security guard walks past a company logo at the headquarters of the world's largest semiconductor maker TSMC in Hsinchu on January 29, 2021 Photograph:( AFP )
Story highlights
Chipmaker TSMC's 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 according to a detailed report by Reuters.
Chipmaker TSMC's 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 according to a detailed report by Reuters.
Chipmaker Taiwan Semiconductor Manufacturing Company Limited's (TSMC's) 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 according to a detailed report by Reuters.
"Our investment plan in the US remains unchanged," the company said late on Thursday in an emailed statement, without elaborating, the Reuters report explained further.
Basic facts about TSMC
Taiwan Semiconductor Manufacturing Company Limited (TSMC) is a Taiwanese multinational corporation specializing in semiconductor contract manufacturing and design. It is the world’s most valuable semiconductor company, the largest dedicated independent semiconductor foundry, and the largest company in Taiwan.
TSMC's headquarters and main operations are based in the Hsinchu Science Park in Hsinchu, Taiwan. While the Taiwanese government is the largest individual shareholder, the majority of the company is owned by foreign investors.
Further, in 2023, TSMC was ranked 44th on the Forbes Global 2000 list. In 2022, Taiwan's integrated circuit exports totalled $184 billion, accounting for nearly 25 per cent of the country’s GDP, with TSMC representing about 30 per cent of the Taiwan Stock Exchange’s main index.
How much is TSMC investing in the US?
TSMC, the world's largest contract chipmaker and a major supplier to companies including Apple (NASDAQ:AAPL) and Nvidia (NASDAQ:NVDA), is investing $65 billion in new factories in the US state of Arizona. Trump, while on the campaign trail, accused Taiwan of stealing American semiconductor business, detailed the Reuters report further.
In April TSMC's US unit was awarded a $6.6 billion subsidy for advanced semiconductor production in Phoenix, Arizona, in a preliminary agreement with the Commerce Department.
Taiwan Semiconductor Manufacturing Co, GlobalFoundries (NASDAQ:GFS) and at least one other chipmaker are poised to receive their final Chips and Science Act awards from the Biden administration, two people 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 $3.6 trillion. Market participants and investors will closely follow these developments, as they will help investors make informed investment decisions.
