Why Taiwan Semiconductor Shares Rose 4.1% Today
Shares of Taiwan Semiconductor (NYSE: TSM) jumped as much as 4.6% in trading on Tuesday on news the U.S. approved an additional $7.5 billion of investment for the company's U.S. chip manufacturing subsidiary. Shares closed the day up 4.1%.
TSMC will invest another $7.5 billion in its U.S. factories, which brings the total investment to $24 billion. The U.S. investment is intended to answer concerns about the lack of domestic supply for computer chips and continues a global expansion for the company.
Earlier this week, it was revealed TSMC is in talks to invest in the UAE, and the company is growing in Japan and Europe. After growing its business primarily in Taiwan, the company is on a path to grow globally that could cost over $100 billion.
Source Fool.com
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