TSMC's Investment Plan in the U.S. Remains Unchanged

TAIPEI (Reuters) – Chipmaker TSMC's investment plan in the United States remains unchanged, the company stated in response to the election of Republican Donald Trump as the next U.S. president.

> "Our investment plan in the U.S. remains unchanged," the company said late on Thursday in an emailed statement, without further details.

TSMC, the world’s largest contract chipmaker and a major supplier to companies including Apple and Nvidia, is investing $65 billion in new factories in Arizona.

During his campaign, Trump accused Taiwan of stealing American semiconductor business.

In April, TSMC’s U.S. unit was awarded a $6.6 billion subsidy for advanced semiconductor production in Phoenix, Arizona, under a preliminary agreement with the Commerce Department.

TSMC, GlobalFoundries, and at least one other chipmaker are expected to receive their final awards from the Chips and Science Act from the Biden administration, according to sources briefed on the matter.

Despite concerns about Trump’s election, TSMC’s shares have performed strongly this year due to soaring demand for artificial intelligence. TSMC's American Depositary Receipts closed up 4.1% on Thursday after Nvidia's shares rallied to a record high, making TSMC the first company to surpass a stock market value of $3.6 trillion.