• Home
  • Laptops
  • Laptops News
  • TSMC Expects Annual Revenue of $10 Billion From US Chip Plants; Apple to Use New Chips, Tim Cook Says

TSMC Expects Annual Revenue of $10 Billion From US Chip Plants; Apple to Use New Chips, Tim Cook Says

TSMC says it is more than tripling its planned investment in the chip factories to $40 billion (roughly Rs. 330 crore)

TSMC Expects Annual Revenue of $10 Billion From US Chip Plants; Apple to Use New Chips, Tim Cook Says

Photo Credit: Reuters

Apple, Nvidia, and Advanced Micro Devices are major TSMC customers

  • TSMC is more than tripling its investment in factories
  • First factory to be operational by 2024
  • TSMC will create 31,000 construction jobs, 13,000 high pay tech jobs

TSMC on Tuesday estimated annual revenue of $10 billion when its two planned chips fabrication plants open in Arizona. The Taiwanese chipmaker said it was more than tripling its planned investment in the factories to $40 billion. The first fab will be operational by 2024 while the second facility nearby will produce advanced chips by 2026. US President Joe Biden and others, including the CEOs of major TSMC customers, are attending a "tool-in" ceremony for the symbolic moving of the first equipment onto the shop floor of the new $12 billion (roughly Rs. 99 crore) facility.

"When completed with both fabs, we will manufacture over 600,000 wafers a year, representing $10 billion (roughly Rs. 82 crore) yearly revenue and with our customers product sales over $40 billion (roughly Rs. 330 crore) a year," said TSMC Chief Executive Mark Liu.

The projects will result in 31,000 construction jobs and "create an additional 13,000 high pay high tech jobs including the 4,500 direct TSMC employees," Liu added.

Apple, Nvidia, and Advanced Micro Devices, all major TSMC customers, said they expected their chips to be made in the new Arizona plants.

"We work with TSMC to manufacture the chips that help power our products all over the world. And we look forward to expanding this work in the years to come as TSMC forms new and deeper roots in America," said Apple CEO Tim Cook.

"AMD expects to be a big customer, of both fabs and we're committed to working closely with TSMC and the entire ecosystem," said AMD CEO Lisa Su.

At least a dozen major cranes are still set up around the first factory which is dubbed Fab 21. The factory is in the northern part of Phoenix, surrounded by brown hills and empty land.

With the new TSMC factory in the backdrop with the flag and a drape reading "A Future Made in America Phoenix, AZ," TSMC executives led by founder Morris Chang, 91, along with CEOs of key machine suppliers and Apple, Nvidia and AMD, toasted the factory opening with sparkling wine.

© Thomson Reuters 2022

Is the new expensive 10th generation iPad worth buying instead of its predecessor? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

Further reading: TSMC, Apple, Nvidia, AMD
ChatGPT Temporarily Banned on Stack Overflow as Chatbot Was Giving Incorrect Answers
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News


Follow Us


© Copyright Red Pixels Ventures Limited 2023. All rights reserved.
Trending Products »
Latest Tech News »