Apple Supplier TSMC Confirms Plans to Build State-of-the-art Chips at Arizona Plant – Apple (NASDAQ:AAPL), Taiwan Semiconductor (NYSE:TSM)

Apple Inc. AAPL supplier Taiwan Semiconductor Manufacturing Co. Ltd. tsm It has confirmed weeks-long rumors that it will manufacture its most advanced chips at its US plant that is under construction.

What happened: Founder of TSMC Morris Chang, The company said Monday that it plans to make the company’s proposed 3-nanometer chips Arizona plant, although the plan has not been fully finalized, reported Reuters.

See also: Warren Buffett reveals $4.1B stake that sends Apple supplier’s stock up 8%

speaking at a press conference in Chang Taipei After returning from the APEC summit in thailand, Although he is retired from TSMC, he is considered an influential figure in both the company and the wider semiconductor industry.

He reportedly said that the first phase of the Arizona site will focus on making 5-nanometer wafer fabs and the second phase will work on 3-nanometer.

Why this is important: TSMC’s 3-nanometer technology, aka N3, is a full node stride from its 5-nanometer technology, and it offers up to 70% logic density gains, up to 15% better speed at the same power and up to 30% power reduction . Similar speed relative to 5-nanometer technology.

Arizona is part of the plant Biden Administration’s efforts to bring most chipmaking onshore. The Taiwanese company, which owns the world’s largest foundry, is reportedly planning a second chipmaking plant in Arizona.

Price Action: TSMC closed at $82.27, up 0.97% in Friday’s session, according to data from Benzinga Pro.

Read further: How to Buy TSMC (TSM) Stock

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