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TSMC approves capital injection of $3.5 billion for Arizona factory

Published 02/14/2023, 06:34 AM
Updated 02/14/2023, 10:06 PM
© Reuters. FILE PHOTO: A logo of Taiwanse chip giant TSMC can be seen in Tainan, Taiwan December 29, 2022.REUTERS/Ann Wang

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.

© Reuters. FILE PHOTO: U.S. President Joe Biden listens to Chairman of TSMC Mark Liu during a visit to TSMC AZ's first Fab (Semiconductor Fabrication Plant) in P1A (Phase 1A), in Phoenix, Arizona, U.S. December 6, 2022. REUTERS/Jonathan Ernst/File Photo

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) 

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