- Intel Corp INTC broke ground on two new factories worth $20 billion in Arizona dubbed Fab 52 and Fab 62, reaching a total of six factories in the state, Reuters reports.
- The new plants will be the first Intel has built from the ground up and will also manufacture chips for Qualcomm Inc QCOM and Amazon.com Inc AMZN cloud unit, and the U.S. military.
- Intel rival Taiwan Semiconductor Manufacturing Co Ltd TSM also acquired land to build its first U.S. campus in Phoenix, not far from Intel's location, where TSM plans up to six chip factories.
- Related Content: Key Takeaways From White House Chip Crisis Meet
- Price Action: TSM shares traded lower by 0.56% at $115.54 on the last check Friday.
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