The largest semiconductor manufacturer on the planet agreed to open factories in the U.S. instead of abroad. The company wants the government to pick up the tab for the difference in cost, even as it postpones production.
Taiwan Semiconductor Manufacturing Company (TSMC) makes semiconductor chips found in iPhones, MacBooks, and computer graphics cards from manufacturers like AMD and Nvidia. In December 2022, Apple CEO Tim Cook and President Joe Biden visited Arizona to announce that TSMC would build a new factory in the state while upgrading and expanding another. "Apple had to buy all the advanced chips from overseas" before, Biden said. "Now we're going to do more of their supply chain here at home." The company pledged to spend as much as $40 billion on the projects.
