Taiwan Semiconductor Manufacturing Co. – the world’s biggest chipmaker – will invest at least $100 billion to expand chip manufacturing in the US. During a press conference on Monday, President Donald Trump said the funding would go toward building two additional chip manufacturing facilities in Phoenix, Arizona.

The $100 billion investment builds upon the $65 billion TSMC has already committed to building three Arizona factories, as well as the $6.6 billion the Biden administration awarded to TSMC under the CHIPS Act. TSMC began producing 4-nanometer chips at its Arizona plant in January, but its future factories are expected to make chips using “2nm or even more advanced process technology” by the end of the decade, according to the company’s website.

Last year, TSMC pushed back the timeline for its second Arizona plant, saying it will open in 2027 or 2028 instead of 2026.

“We are producing the most advanced chip made on US soil with the success of our first plant,” TSMC CEO C.C. Wei said during the press conference. “We’re going to create thousands of high-paying jobs… and produce many AI chips.” A recent report from The New York Times suggested that the Trump administration encouraged TSMC to take over Intel’s chipmaking factories.