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.

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.

The investment would help bolster President Donald Trump’s pledge to make the United States dominant in artificial intelligence.

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

WASHINGTON - Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s biggest semiconductor manufacturer, will invest $100 billion in the United States, President Donald Trump announced on Monday. "This is a tremendous thing for our country," Trump said on Monday.