India, March 4 -- Taiwanese semiconductor giant TSMC will be investing at least $100 billion to build five "cutting edge" manufacturing facilities in the US, announced President Donald trump on Monday.

TSMC, or Taiwan Semiconductor Manufacturing Co, which at the moment is the world's largest chipmaker, will invest much of these funds into the Arizona state, according to a report by news agency AFP.

This would create "many thousands" of high-paying jobs, Trump announced during a White House event, flanked by TSMC chief executive C.C. Wei.

The result would be "three new fabrication plants, two advanced packaging facilities and a major R&D (research and development) team center," while also supporting 40,000 construction jobs over the nex...