TSMC plans to double down on US chip factories

Taiwan Semiconductor Manufacturing Co is weighing plans to pump tens of billions of dollars more into cutting-edge chip factories in the U.S. state of Arizona than it had previously disclosed, but is cool on prospects for an advanced European plant, people familiar with the matter told Reuters.

TSMC is the world’s most advanced chip-maker, and its investment plans are being closely watched amid a global chip shortage and new initiatives in the U.S. and Europe to subsidize semiconductor production. TSMC announced last year that it would invest $10 billion to $12 billion to build a chip factory in Phoenix.