.png)
German (DE) 
English (US) 
Spanish (ES) 
French (FR) 
Hindi (IN) 
Italian (IT) 
Russian (RU) (Bloomberg) -- Taiwan Semiconductor Manufacturing Co. became the latest tech company to pledge billions of dollars in US investments that President Donald Trump will almost certainly take credit for.
Most Read from Bloomberg
-
Cuts to Section 8 Housing Assistance Loom Amid HUD Uncertainty
-
NYC Office Buildings See Resurgence as Investors Pile Into Bonds
-
Hong Kong Joins Global Stadium Race With New $4 Billion Sports Park
The world’s largest maker of advanced chips is planning to invest $100 billion in the US, a move Trump just announced at the White House alongside TSMC Chief Executive Officer C.C. Wei on Monday. TSMC had already previously committed to $65 billion in US investments for manufacturing facilities in Arizona, but Trump made clear that the new $100 billion is expected to be in addition to that.
New or not, corporate pledges have become a Trump tradition. Around the start of Trump’s first term eight years ago, the Japanese investment giant SoftBank Group Corp. made a staggering commitment to invest $50 billion in the US that, it said, would create 50,000 jobs. (It’s unclear whether SoftBank’s spending resulted in that many jobs.) Foxconn Technology Group and Intel Corp. were among others that handed Trump spending plans to tout — despite the fact that some were clearly in the works long before he took office.
Below are the more than $1 trillion in major tech investments announced since Trump took office for a second time:
Apple
Announced: $500 billion domestically over the next four years
Previously: The plan isn’t far off from what Apple had previously said it would spend, and its pledge to create thousands of jobs similarly isn’t significantly above the company’s historical pace of hiring.
Jobs: 20,000
Location: Houston and Detroit
On Feb. 24, Apple announced what the company described as its biggest US commitment to date. The tech giant is planning to hire 20,000 new workers, produce AI servers in the US and altogether spend $500 billion domestically over the next four years. Investments will include the opening of a new server manufacturing facility in Houston, a supplier academy in Michigan and additional spending with its existing suppliers in the country.
The announcement came days after Trump and Apple Chief Executive Officer Tim Cook met, after which Trump suggested that Cook planned to invest “hundreds of billions of dollars.”
Apple said it hired 20,000 research and development workers over the last five years and said in 2021 it would invest $430 billion locally over the next half-decade. That means the latest development is only a slight acceleration over its prior investments and previously announced plans, adding $39 billion in spend and an additional 1,000 jobs annually.
Comments