Taiwan Semiconductor Manufacturing Corporation (TSMC) pressed ahead with plans to build a USD12 billion chip plant in Phoenix, Arizona.
Detail: Speaking at the firm’s annual technology presentation to clients and investors, which held online amid pandemic, TSMC’s chief executive CC Wei said the factory is well under way, the factory will begin mass production of 5-nanometre semiconductors once it commence operation.
Wei also mentioned previously that the firm plans to mass produce 5-nanometer chips by 2024 in the state.
US Senate advanced a USD54 billion subsidies for the chip industry last week, TMSC will compete the subsidies along with a few others including Intel Corp and Samsung.
Context: Amid a worldwide shortage of chips, TSMC’s semiconductors became hit and its share have soared since the Covid-19 pandemic outbreak.
Currently, TSMC’s market value is USD563 billion, more than twice that of Indel’s
In April, TSMC announced a plan to invest USD100 billion into chips production over the next three years.