Taiwanese chipmaker TSMC on Tuesday said that it will more than triple its original $40 billion investment in the plants. By 2024, the first fab will be operational, and by 2026, a second adjacent fab will be producing cutting-edge chips. Attending a “tool-in” ceremony with others, including the CEOs of significant TSMC clients, is U.S. President Joe Biden.
The two planned chip fabrication operations in Arizona are expected to bring approximately $10 billion in yearly revenue, according to a Tuesday estimate by Taiwanese chipmaker TSMC.
TSMC executives led by founder Morris Chang, 91, together with CEOs of significant machine suppliers including Apple, Nvidia, and AMD toast the factory opening with sparkling champagne as the new TSMC plant with the flag and a drape saying “A Future Made in America Phoenix, AZ” stands in the background.