TSMC shares rose on Wednesday as investor sentiment improved after GlobalFoundries announced a $16 billion investment to expand U.S. chip manufacturing, according to Benzinga. GlobalFoundries plans to invest $13 billion to expand fabrication and packaging in New York and Vermont, plus $3 billion in research and development. The investment focuses on technologies like silicon photonics, gallium nitride power devices, and advanced chip packaging to meet growing demand from AI, edge computing, and data centers. Commerce Secretary Howard Lutnick described the expansion as central to the Trump administration’s reshoring strategy. Industry leaders from Apple, AMD, and Qualcomm endorsed the move, emphasizing the need for a stable U.S. semiconductor supply chain.
