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Taiwanese chip giant invests $40bn in US plant

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Computer chip giant TSMC says it will more than triple its investment in a giant US plant to $40bn (£33bn).

It is one of the largest foreign investments in American history.

The announcement came as President Joe Biden and the Taiwan-based firm’s boss opened the factory in Arizona.

The Biden administration is pushing ahead with plans to bring onshore production of key components in everything from phones to military jets.

TSMC is the world’s largest maker of micro chips for other companies, with clients including Apple.

Its Arizona plants will produce 3-nm and 4-nm chips used for iPhone processors. Semiconductors are sometimes referred to as the “brains” of electronics like smartphones, car components and AI technology.

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Andrew Sabastian is a tech whiz who is obsessed with everything technology. Basically, he's a software and tech mastermind who likes to feed readers gritty tech news to keep their techie intellects nourished.