"This is a tremendous move by the most powerful company in the world," Trump said alongside TSMC CEO C.C. Wei. "It's a matter of economic security, it's also a matter of national security for us."
TSMC will make the investment over the next four years, expanding its U.S. operations with "cutting-edge" facilities, the Wall Street Journal reported. Semiconductor chips are essential to modern technology, powering everything from cars to computers to smartphones. Demand has surged in recent years, driven by the rapid growth of artificial intelligence, which requires immense computing power. The Taiwanese chipmaker is just the latest tech company to pledge billion-dollar investments in the United States since Trump's return to the White House.
Apple announced last week that it will commit more than $500 billion to expanding its facilities and investments in the United States over the next four years. In January, Oracle, OpenAI, and SoftBank unveiled Stargate, a joint venture aimed at expanding U.S. artificial intelligence infrastructure, with a combined investment of $500 billion over the coming years.