Speaking at the company's annual technology presentation to clients and investors, held online for the second straight year because of the pandemic, CEO C.C. Wei said the planned factory remains on track to start volume production of chips using the company's 5-nanometer production technology starting in 2024.
TSMC is expected to be one of several companies, including Intel and Samsung competing for some of the $54 billion in subsidies for the chip industry that advanced in the United States Senate last week.
The outfit plans to build as many as six factories at the Arizona site over a 10- to 15-year period. The company announced in April a $100 billion investment plan over the next three years to increase capacity at its factories. Wei reiterated that number, which will include $30 billion in spending this year, at the presentation.
"That will give us enough manufacturing capacity to support the growth of our clients", he said.
Wei also said the company has developed a version of its 5-nanometer chipmaking process certified for use by automakers for advanced applications like artificial intelligence, though the new offering is unlikely to alleviate the current chip shortages because the shortages are of less advanced chips.
He said TSMC's next generation of 3-nanometer chipmaking technology remains on track to start volume production at the company's "Fab 18" factory in Tainan, Taiwan, in the second half of next year.