- Taiwan Semiconductor Manufacturing Co Ltd TSM has started the $12 billion chip factory construction in the Arizona site, Reuters reports based on CEO C.C. Wei during the annual technology presentation.
- Wei reiterated the factory’s mass production plans of the 5-nm by 2024, Bloomberg Quint reports.
- TSM is expected to compete for the U.S. chip subsidies worth $54 billion apart from Intel Corp INTC and Samsung Electronics Co Ltd SSNLF.
- TSM plans to construct around six factories at the Arizona site over 10 – 15 years.
- Price action: TSM shares traded lower by 0.43% at $118 in the premarket session on the last check Wednesday.
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