Taiwan Semiconductor Manufacturing Company (TSMC) has committed to a further $100 billion investment in its US chip fabrication sites, Reuters has reported.

The firm announced the new investment during a call with investors, confirming it would be in addition to the $165 billion it has already committed to expand its US operations.

“We believe this investment will help ​to further foster the development of the US semiconductor ecosystem, strengthen the supply chain, and support an increasing number of high-tech, high-paying jobs in the ‌United States,” said⁠ TSMC chief executive C.C. Wei told attendees, as reported by Reuters.

He added that with the new investment, TSMC could build an additional four chip manufacturing sites in Arizona in addition to the eight it has previously announced.

In its second quarter financial results, published today, TSMC announced revenue of 1,270.38 billion New Taiwan dollars, ($40.20 billion), up 33.7 per cent year-over-year. The chip giant’s net income hit 706.56 billion New Taiwan dollars ($22 billion), a 77.4 per cent increase year-over-year.

“Our customers and customers' customers, who are mainly the cloud service providers, continue to provide us with ​their very strong signal and positive outlook,” company CEO C.C. Wei told an earnings conference.

TSMC produces over 90 per cent of all the world’s advanced semiconductors, according to the US Department of Commerce, and is under increasing strain as AI chip demand rises.

In June, Wei told shareholders that TSMC is working hard to meet demand and that he wants to raise prices, though he stressed he was not looking to replicate the “80 per cent margins” of some manufacturers. “We are doing our best to ensure TSMC does not become a bottleneck,” he added.

The same month, Reuters reported that Wei told attendees at an opening ceremony that TSMC could face water shortages in the near future, which would also affect its output.

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