Taiwanese semiconductor manufacturer raises $3.5 billion to grow US facilities
Taiwan Semiconductor Manufacturing Company (TSMC) has raised $3.5 billion in bonds to fund the continued construction of its facility in Arizona
Increasing investments in the US continue to be a high priority for semiconductor manufacturers as they compete for $52 billion in subsidies set aside for the chip industry
TSMC has additionally committed to building a further six factories within Arizona over the next 10 to 15 years
TSMC, a major semiconductor supplier for Apple, AMD and Nvidia, has raised $3.5 billion in bonds to help grow its facility in Arizona to help meet the growing demand for electronics worldwide.
As the demand grows, so too does the competition among manufacturers with TSMC, Intel and Samsung vying for $52 billion in subsidies set aside for the chip industry.
TSMC began construction for its Arizona plant last year with costs estimated at around $12 billion and plans to eventually build six factories within Arizona over the next 10 to 15 years. Access to subsidies is key to providing the necessary capital to keep the company on schedule.
Much of the demand for semiconductors comes from the requirements of crypto mining hardware, with the market expected to grow to over $2.8 billion between 2020 and 2024. As a major supplier, TSMC is on track to produce almost all of the chips incorporated into mining machines.
North America is expected to continue to dominate the overall mining equipment market until at least 2027, replacing China as the world’s largest bitcoin-mining nation.
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