AsianFin -- U.S. President Donald Trump said that Taiwan Semiconductor Manufacturing Company (TSMC) would invest $300 billion in Arizona. This figure is nearly double the $165 billion the company had previously announced for its U.S. expansion.

TSMC, a major contract chipmaker, has steadily grown its Arizona plans since the project was first announced. The initial investment of $12 billion has expanded to a sprawling complex that now includes plans for six wafer fabs, two advanced packaging facilities, and an R&D center.

The company has already begun mass production of 4nm-process chips at its first fab and is building two more fabs to produce more advanced nodes like 3nm, 2nm, and A16. The massive investment is part of a broader push to bring advanced semiconductor manufacturing back to the U.S.

The remarks from Trump, who also hinted at new tariffs on semiconductors, have been met with skepticism by some analysts who believe the number may be a political maneuver to lay the groundwork for a new trade policy. TSMC has yet to issue an official comment on the new figure.