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Taiwan's TSMC says US investment plan is unchanged after election
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Taiwan's TSMC says US investment plan is unchanged after election
Nov 9, 2024 12:46 PM

TAIPEI, Nov 8 (Reuters) - Chipmaker TSMC's

investment plan in the United States remains unchanged, the

company said, responding to a question on the election of

Republican Donald Trump as the next U.S. president.

"Our investment plan in the U.S. remains unchanged," the

company said late on Thursday in an emailed statement, without

elaborating.

TSMC, the world's largest contract chipmaker and a major

supplier to companies including Apple ( AAPL ) and Nvidia ( NVDA )

, is investing $65 billion in new factories in the U.S.

state of Arizona.

Trump, while on the campaign trail, accused Taiwan of

stealing American semiconductor business.

In April TSMC's U.S. unit was awarded a $6.6 billion

subsidy for advanced semiconductor production in Phoenix,

Arizona, in a preliminary agreement with the Commerce

Department.

Taiwan Semiconductor Manufacturing Co ( TSM ), GlobalFoundries ( GFS )

and at least one other chipmaker are poised to receive

their final

Chips and Science Act

awards from the Biden administration, two people briefed on

the matter said this week.

TSMC's shares have so far batted off concern about

Trump's election, and have performed strongly so far this year

given soaring demand for artificial intelligence.

On Thursday, the company's American Depositary Receipts

closed up 4.1%, after

Nvidia's ( NVDA ) shares

rallied to a record high, making the chipmaker the first

company in history to surpass a stock market value of $3.6

trillion.

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