TSMC approves capital injection of $3.5 billion for Arizona factory
11:03 pm Tuesday, February 14th, 2023
TAIPEI (Reuters) – Taiwanese chipmaker TSMC said on Tuesday its board had approved a plan of capital injection of up to $3.5 billion to TSMC Arizona.
TSMC in December tripled its planned investment at the Arizona chip plant, which began construction late last year, to $40 billion.
The company said the capital injection is part of the planned $40 billion spent.
The factory, among the largest foreign investments in U.S. history, will start production in 2024, using advanced 5 nm technology.
TSMC expects its Phoenix factories to create 13,000 high-tech jobs, including 4,500 under TSMC and the rest at suppliers.
(This story has been corrected to say that the production will start in 2024 using 5 nm technology, not in 2026 using 3nm technology in paragraph 4; also clarifies that capital injection is part of investment planned, in paragraph 3)
(Reporting by Meg Shen; editing by Jason Neely)
