Jammu, April 8 -- President Biden has announced a major investment plan with Taiwan Semiconductor Manufacturing Corporation (TSMC) that aims to strengthen chip production capabilities in the United States. In a multi-billion dollar preliminary agreement between TSMC and the U.S. Commerce Department, the Taiwanese chip giant will support the construction of new manufacturing facilities across America, including its third plant in Arizona.

TSMC is the world's largest contract chipmaker and supplies leading tech companies like Apple. This latest deal builds on TSMC's already sizable $10 billion investment in an Arizona fab announced last year. With its total commitment to the U.S. now reaching an estimated $65 billion, TSMC will help addres...