Chipmaker TSMC's CEO to hold press conference at Taiwan presidential office

TAIPEI : The CEO of chipmaker TSMC <2330.TW> will hold a press conference at Taiwan's presidential office at 5:00 p.m. local time (0900 GMT) on Thursday, the president's office said, days after the company announced major investment in the U.S. which requires government approval.

No further details were given.

Earlier this week, the world's largest contract chipmaker announced a fresh $100 billion investment in the U.S. that involves building five additional chip facilities there amid threats from the U.S. President Donald Trump to impose tariffs on semiconductor imports.

Taiwan's cabinet said on Tuesday it would review the investment in line with its laws, which require government approval for any large overseas investment by a Taiwan company, but that it viewed overseas investments that would raise Taiwan's overall competitiveness positively.

Taiwan's presidential office said earlier its review would also consider the interests of investors and Taiwan.

As a key manufacturing partner to Nvidia, Qualcomm and Advanced Micro Devices, TSMC is central to the U.S. chip industry, and bringing more of its production to U.S. soil would solve a major supply chain risk for those firms.