Taiwan Semiconductor Manufacturing Company, known as TSMC, will further expand its industrial footprint in the United States with an additional investment of approximately $100 billion.
The move would raise the company's total commitment on US soil to roughly $265 billion, mainly earmarked for factories, research centers, and advanced semiconductor production.
The United States wants to make more chips
The investment is part of the US push to reduce its reliance on plants located in Asia and strengthen local production of components used in artificial intelligence, data centers, phones, and vehicles.
TSMC is one of the world's leading chipmakers, producing processors for tech companies such as Nvidia, Apple, and AMD.
The expansion could also create thousands of jobs in engineering, construction, and tech manufacturing.