President Donald Trump urged lawmakers to repeal the CHIPS Act in his address to a joint session of Congress, arguing that tariffs are enough of an incentive for chipmakers.

Taiwan semiconductor company TSMC plans to make a fresh $100 billion investment in the United States that involves building five additional chip facilities there in coming years, its CEO announced with President Donald Trump on Monday.

President Donald Trump announced Monday that chip giant Taiwan Semiconductor Manufacturing Co. (TSMC) plans to invest an additional $100 billion in the United States, including new and existing Phoenix-area sites.

The company had already begun constructing three plants in Arizona after the Biden administration offered billions in subsidies.

Arizona has emerged as the world’s go-to destination for companies charting the future of digital technology. Since 2020, Arizona has led the nation in new semiconductor investment, with more than $105 billion announced.

Taiwan Semiconductor plans to invest $100 billion in U.S. for advanced semiconductor manufacturing, creating thousands of jobs and supporting AI development.

President Trump and Taiwan Semiconductor Manufacturing announced a $100 billion company investment in Phoenix. The deal could have broad significance.