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Business

REVEALED: The u s chip boom is just beginning | Rare Historical Photos

Joe Biden TSMC United States Arizona China

Chip giant Taiwan Semiconductor Manufacturing Co.'s decision to triple its investment in Arizona is part of a national rush to re-shore key inputs for the American economy.

Driving the news: President Biden traveled to TSMC's Arizona plant on Tuesday to bask in the glow of the announcement. The company — which by some measures manufactures over half the world's chips — said the three-fold increase would bring its investment to around $40 billion.

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