TSMC $100B Arizona Expansion

Semiconductor Manufacturing International Corporation (TSMC) announced an additional $100 billion investment to expand its semiconductor manufacturing and advanced packaging operations in Arizona, bringing its total planned U.S. investment to $265 billion. The new commitment, announced on July 16, 2026, alongside record second-quarter results, will fund four additional fabrication plants focused on 2-nanometer and more advanced technologies, plus advanced packaging facilities. TSMC raised its 2026 capital expenditure budget to $60-64 billion and its full-year revenue growth forecast to slightly above 40%. The expansion is supported by the U.S. Commerce Department and follows a U.S.-Taiwan trade agreement. Separately, Linde plc announced a $1 billion investment to expand its Phoenix, Arizona industrial gases complex to supply ultra-high-purity gases to a major semiconductor manufacturer, with its Taiwan joint venture Linde LienHwa investing approximately $800 million for similar supply in Taiwan. TSMC reported record net profit of $22 billion for Q2 2026, up 77% year-on-year, driven by robust AI demand. The company faces challenges including construction worker shortages in Arizona and ongoing U.S. export controls on advanced chips to China.