Saudi Press

Saudi Arabia and the world
Saturday, Aug 02, 2025

Biden to visit Taiwan's TSMC chip plant in Arizona, hail supply chain fixes

Biden to visit Taiwan's TSMC chip plant in Arizona, hail supply chain fixes

Taiwanese chipmaker TSMC (2330.TW) on Tuesday said it would more than triple its planned investment at its new Arizona plant to $40 billion, among the largest foreign investments in U.S. history, as President Joe Biden visited and hailed the project.
The expanded investment is a big win for Biden after supply chain issues disrupted the U.S. economy early in his presidency.

"American manufacturing is back, folks," Biden said in a speech against the backdrop of the new factory draped with an American flag and a large banner reading "A Future Made in America Phoenix, AZ."

Biden's recent trip to Asia convinced him the United States is in a better position to lead the world economy in the years ahead "if we keep our focus," he said.

Mark Liu, chairman of Taiwan Semiconductor Manufacturing Co Ltd, known as TSMC, estimated annual revenue of $10 billion when the two planned chip fabrication plants open, adding that customers would have annual sales of $40 billion from products using chips made there.

Apple Inc (AAPL.O), Nvidia Corp (NVDA.O) and Advanced Micro Devices Inc (AMD.O), all major TSMC customers, said they expected their chips to be made in the new plants.

"We work with TSMC to manufacture the chips that help power our products all over the world. And we look forward to expanding this work in the years to come as TSMC forms new and deeper roots in America," Apple CEO Tim Cook said in a speech.

Also joining Biden at the facility's opening ceremony was TSMC founder Morris Chang, chipmaker Micron Technology Inc (MU.O) CEO Sanjay Mehrotra and Nvidia CEO Jensen Huang, among others.

The plant, scheduled to be operational in 2024, will make a more advanced chip than initially announced.

TSMC's Taipei-listed shares were flat in early trade on Wednesday following the announcement, tracking the broader market (.TWII).

TSMC, the world's largest contract chipmaker, is a leading supplier to major U.S. hardware manufacturers. Its $40 billion funding for the two facilities is the company's largest investment outside of Taiwan.

"Bringing TSMC's investment to the United States is a masterstroke and a game-changing development for the industry," Nvidia's Huang said in remarks prepared for Tuesday's event.

TSMC's expanded investment in Arizona is the latest in a string of major investments announced by chipmakers since the CHIPS and Science Act passed this summer. These include International Business Machines Corp (IBM.N), Micron Technology Inc (MU.O) and Wolfspeed Inc (WOLF.N).

TSMC said it would build a second facility nearby to produce so-called "3 nanometer" chips by 2026, the most advanced currently in production.

TSMC also said it was planning to build an industrial water reclamation plant. Chip making is a water-intensive process, and Arizona, which is largely desert, is increasingly struggling with water shortages.

TSMC's Liu said its Phoenix factories are expected to create 13,000 high-tech jobs, including 4,500 under TSMC and the rest filled by suppliers.

Biden has sought to boost semiconductor production after the pandemic caused supply chain problems that led to shortages of chips for vehicles and many other items.

U.S. semiconductor production accounts for just 12% of the global total, down from 37% two decades ago, said a White House report on supply chain problems last year.

Taiwan's dominant position as a maker of chips used in technology from cellphones and cars to fighter jets has sparked concerns of over-reliance on the island, especially as China ramps up military pressure to assert its sovereignty claims.

China claims Taiwan as its territory but the democratically elected government in Taipei rejects Beijing's sovereignty claims.

The $52.7 billion Chips and Science Act, signed into law by Biden in August, is aimed at preventing a resurgence of supply chain woes.

Biden's trip to Arizona marks "a significant milestone that TSMC is reaching in bringing the most advanced semiconductor manufacturing back to the U.S.," said Brian Deese, director of the White House National Economic Council.

Biden's victory in Arizona in the 2020 presidential election helped catapult him to the White House. Republican Donald Trump had won the state in 2016.

Biden has said he intends to seek a second four-year term in 2024.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
×