15 AI News Updates Wall Street Is Monitoring

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6. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Market Capitalization: $851 Billion  

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) makes and sells integrated circuits and semiconductors. The company was recently granted close to $6.6 billion in funding through the CHIPS Act. US government officials claim that the money would help create 20,000 construction jobs and 6,000 high-paying manufacturing jobs in Phoenix. TSM chips manufactured at the new TSM plant in Arizona would be used in smartphones, cars, satellites, weapons systems and other electronics. US Senator Mark Kelly, who helped negotiate the CHIPS and Science Act, has said that Arizona is set to become one of the world’s key centers for leading-edge microchip manufacturing.

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