TSMC has begun construction on a US factory, launching a $12 billion investment.

TSMC announced at the 'TSMC 2021 Technology Symposium' held online recently that construction has begun on its Arizona plant in the United States.

The plant is scheduled to be completed in 2024 and is expected to produce 20,000 5nm products per month.

Prior to this, TSMC announced plans to build a US plant in May 2020. At the time, TSMC announced plans to build a 300mm wafer plant in Phoenix, Arizona, with construction scheduled to begin in 2021, equipment installation and pilot production in 2023, and production to begin in the first half of 2024.

Along with this, in this announcement, TSMC CEO Wei Zhao announced that TSMC's chip process has already entered the second-generation 5nm node, and that mass production of 3nm products will begin next year.

Additionally, the company announced plans to complete a test line for semiconductors with a circuit line width of 2 nm within the year and build a factory for mass production.

Meanwhile, the United States is operating a semiconductor support program worth $54 billion.

In addition to Intel, Samsung and TSMC are also actively receiving these large subsidies.

TSMC is likely to expand its construction plans in the United States, ultimately planning to build six wafer fabs.