Chipmaker TSMC said its board had approved a plan to boost the capital of its chip factory in Arizona by up to $3.5 billion.
TSMC, a leading semiconductor company, in December tripled its planned investment at the Arizona chip plant, which began construction late last year, to $40 billion.

The factory, among the largest foreign investments in U.S. history, will start production in 2026, using advanced 3 nm technology.

TSMC expects its Phoenix factories to create 13,000 high-tech jobs, including 4,500 under TSMC and the rest at suppliers.