Tim Cook joins US leaders as TSMC announces $40 billion investment to produce chips in Arizona

On Tuesday, Apple CEO joined President Biden and Arizona officials, in a televised event on the site where TSMC is constructing a semiconductor-based manufacturing plant set to open in 2024. As Apple expands its relationship with TSMC, the new factory will begin to produce Apple silicon in the US.

Back in 2021, TSMC initially announced it’d invest $12 billion towards a fabrication plant. On Tuesday’s event, TSMC announced it would raise its investment to $40 billion that accounts for a second fabrication plant where 3nm chips would go into production when it opens in 2026. The first fabrication plant will produce 4nm chips starting 2024. President Biden says the new plant will create tens of thousands of “construction” and “high tech” jobs for Arizonians

“Next year, commercial operations will begin and today TSMC has announced a second major investment. It will construct a second fab here in Phoenix to build ‘three nano chips’, ‘chips that are three nano’, you know what I’m saying. “ President Biden

WATCH: CEO Tim Cook said Apple will build chips in the US for the first time in nearly a decade, working with TSMC https://t.co/T68jCnp5k5 pic.twitter.com/KV0ilHe5jq

— Bloomberg Technology (@technology) December 7, 2022

Tim Cook says that chips for many Apple products will be produced in the Phoenix plant and that “Thanks to the hard work of so many people […] these chips can be proudly stamped: ‘Made in America’.

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