TSMC is confident CHIPS Act funding will continue under Trump, according to its CFO

The newly elected president of the United States, Donald Trump, accused Taiwan of “stealing” his country’s chip industry. But Taiwan’s largest chip company is confident that the Trump administration will continue to fund its projects in the United States

Taiwan Semiconductor Manufacturing Co has been He promised 6.6 billion dollars Under the Joe Biden administration CHIPS and Science ACT As part of the US effort to help build three advanced chip manufacturing plants in Arizona onshore chip manufacturing.

Speaking in an exclusive interview with CNBC’s Emily Tan, TSMC Chief Financial Officer Wendell Huang said funding is expected to continue to grow gradually under Trump as manufacturing plants move through construction and production phases.

“In fact, in the fourth quarter, we already received the first batch of government support,” Haung said, announcing that the contract chipmaker had secured $1.5 billion in funding.

Following some production delaysThe first factory in Arizona began producing advanced chips in the fourth quarter of last year, Huang said.. He added that two plants are being built in Arizona the second was expected It will start operating in 2028.

TSMCs first investment Arizona was announced in May 2020, with the company’s total investment in the three projects there ultimately exceeding $65 billion.

Most of the investments were made after the Biden administration signed off on the two parties The CHIPS Act He committed in August 2022 about $53 billion investing in the domestic semiconductor supply chain and countering China.

The incoming president is expected to do the same Competition with China and during the second period, land production was preferred dispute On whether Trump and the Republican-led House will reconsider the CHIPS Act.

During his campaign for the White House, Trump publicly criticized the bill and its price tag, arguing instead that tariffs are a more effective strategy for onshore chip manufacturing. The president-elect also blamed Taiwan”theft“The US chip business.

However, industry experts told CNBC that they expect Trump to leave politics mostly intact Because of his bipartisan support in Washington.

TSMC Thursday achieved record profits on strong demand for its AI chips for the fourth quarter, sending its shares up nearly 4%. Shares closed up 1.36% on Friday.

In an earnings call after the results, CEO and Chairman CC Wei highlighted TSMC’s “longstanding and good relationship” with the US government and the commitment and support it has received at the federal, state and city levels.

“Let me assure you that we have a very sincere and open communication with the current government and the future government,” he answered the investor’s question.

On Thursday, Wei also said he would not attend Trump’s inauguration because the company prefers to keep a low profile, according to a Reuters report.