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TSMC Receives US$11.6bn Support for AI-Chip Factories in Arizona

The US government announced plans to provide Taiwan Semiconductor Manufacturing Company (TSMC) with US$11.6bn in grants and loans to support the construction of three AI-chip production facilities in Arizona. The grant is under the CHIPS and Science Act, which aims to enhance domestic AI chip production. This agreement, representing the largest foreign direct investment in a brand-new development project in US history, increases TSMC's investment in the US from US$40bn to US$65bn. Two of the factories are currently under construction, with production slated to begin in 2025, while the third factory, which will produce advanced chips, has not yet started construction. We see semi-conductor demand from AI as a huge growth area for helium demand over the coming years.

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