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Phoenix okays development deal with TSMC for $12 billion chip factory

TSMC is the world’s biggest contract chipmaker and manufactures semiconductors for Apple Inc, Qualcomm Inc and a range of other technology companies. The company in May disclosed its intentions to build a 5-nanometer chip factory in Arizona, which would be its first advanced manufacturing facility in the United States. Earlier this month it approved an investment to set up a wholly owned subsidiary in the U.S. state with paid-in capital of $3.5 billion.

The plant would be completed by 2024 and may benefit from U.S. subsidies meant to bring onshore manufacturing of high tech components.


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