Taiwan Semiconductor to announce US$12bil US factory

TSMC is a major supplier to Apple Inc. The Taiwanese company makes the chips that power Apple's iPhones, and the iPhone maker works closely with the chip manufacturer to become the first to take advantage of new advances in its chip-making processes. (File pic shows Apple iPhone eleven)

Taiwan Semiconductor Manufacturing Co Ltd, the world's biggest contract manufacturer of computer chips, is expected to announce plans to build an approximately US$12 billion advanced chip factory in Arizona, according to people familiar with the matter.

The announcement, expected as soon as Thursday, coincides with an effort by the administration of President Donald Trump to bring more foreign manufacturing to the United States.