Biden visits Arizona semiconductor plant in latest celebration of the CHIPS Act

(AP Photo/Patrick Semansky) (Fair Use)

In the four months since he signed the Chips and Science Act of 2022 into law, President Biden has made a habit of visiting semiconductor plants — or plants to be — to tout the effects of the law.

Recent stops have included the groundbreaking of an Intel (INTC) facility in Ohio and a Micron (MU) plant in upstate New York. On Tuesday, the Taiwan Semiconductor Manufacturing Company (TSMC) hosted the president as it unveiled plans for an upgrade of its capabilities in Phoenix and announced plans to build a second facility nearby.

“What we are doing here in Arizona matters across the country and around the world,” President Biden added when he took the stage to tout the overall investment of approximately $40 billion, which the White House called the largest foreign direct investment in the state’s history.