The semiconductor manufacturer TSMC says it’s investing another $ 100 billion in Arizona.
The latest commitment appears to bring the company’s total pledges for investment in U.S. chipmaking to $265 billion. It also raised its annual revenue forecast after booking record high profits thanks to runaway demand from the boom in artificial intelligence.
Phoenix Mayor Kate Gallego and TSMC’s CEO C.C. Wei say it’s the largest direct investment from a foreign company in U.S. history.
“We believe this investment will help to further foster the development of the U.S. semiconductor ecosystem, strengthen the supply chain and support an increasing number of high-tech, high-paying jobs in the United States,” Wei said.
TSMC marked record profits during its earnings call Wednesday night, driven by a high demand for computer chips stemming from the AI boom.
Wei says the company plans to add four more advanced semiconductor facilities in Arizona, focusing on 2-nanometer chips and below.
The company currently makes those in Taiwan, though it is working to develop smaller designs.
The announcement means that TSMC will have a total of 12 semiconductor facilities in the United States.
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