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The Israeli occupation targets Deir Keefa in South Lebanon with 2 surface-to-surface missiles
Philippe Lazzarini: The famine in Gaza is a direct result of banning food and other basic supplies for months including from UNRWA .
Philippe Lazzarini: The spread of famine can still be controlled by a ceasefire and allowing humanitarian organizations to do their work and reach starving people with aid.
The United Nations on the Israeli-induced famine in Gaza: The starvation of civilians for military objectives is a war crime.
UNRWA Commissioner-General Philippe Lazzarini: famine is now confirmed in Gaza city. This is starvation by design and manmade by the Government of Israel.
More than 30 people have been martyred in Gaza since Friday dawn in Israeli bombardment targeting refugee camps throughout the blockaded strip.
Al Mayadeen correspondent: The Israeli occupation forces are carrying out demolitions of residential buildings in Gaza's al-Tuffah neighborhood amid intensifying airstrikes.
Israeli media: A man is critically wounded from a shooting near Malachi Hashalom between Ramallah and Nablus, and ambulance crews are on their way to the scene.
Al Mayadeen correspondent: One person was martyred in an Israeli airstrike that targeted a motorcycle in southern Lebanon's Deir Saryan.
Al Mayadeen's correspondent to Southern Lebanon: An Israeli drone strike on a motorcycle in the town of Deir Saryan left one civilian injured

Chip giant TSMC briefly joins trillion-dollar club

  • By Al Mayadeen English
  • Source: Agencies
  • 8 Jul 2024 20:22
3 Min Read

The tremendous success of OpenAI's ChatGPT has ignited an AI gold rush, with demand skyrocketing throughout the world for the cutting-edge processors required to train and run AI services.

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  • Chip giant TSMC briefly joins trillion-dollar club
    Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC) logo brands the headquarters in Hsinchu, Taiwan on October 20, 2021. (AP)

Chipmaking juggernaut Taiwan Semiconductor Manufacturing Co.'s (TSMC) market value temporarily reached $1 trillion on Monday, as the AI craze continued to drive tech stocks.

TSMC manufactures more than half of the world's chips and distributes them to a wide range of companies, including Apple and Nvidia. The business temporarily crossed the threshold after the opening bell in New York, but then fell lower in subsequent trade. Its shares in 2024 have surged by more than 85%. 

The valuation follows that of Nvidia, which manufactures AI hardware and software and temporarily held the world's most valuable position last summer.

The tremendous success of OpenAI's ChatGPT has ignited an AI gold rush, with demand skyrocketing throughout the world for the cutting-edge processors required to train and run AI services.

TSMC leads the worldwide semiconductor business, with the majority of its fabrication operations located in Taiwan. Despite escalating tensions with China, demand for TSMC shares remains strong.

In May, US Commerce Secretary Gina Raimondo emphasized the potentially severe consequences for the United States if China were to decide to reunify with Taiwan.

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Raimondo, showcasing that the US is only interested in Taiwan's "security" because of its importance in the microchip sector, highlighted the critical role of Taiwan in microchip supply and production, stressing the decades-long collaboration between Taipei and Washington in this domain.

Speaking before the US House Appropriations Subcommittee on Commerce, Justice, and Science, Raimondo underscored the significance of Taiwan's contribution to the microchip industry. She pointed out that the United States currently relies heavily on Taiwan Semiconductor Manufacturing Company (TSMC), procuring 92% of its leading-edge chips from the Taiwanese firm.

TSMC, US agree on construction of third semiconductor plant in Arizona

The Taiwan Semiconductor Manufacturing Company (TSMC) announced in April a $6.6 billion plan to launch the construction of a third semiconductor plant in Arizona in collaboration with the US Department of Commerce.

According to the company, the $6.6 billion funding resulted from a Preliminary Memorandum of Terms (PMT) with the US Department of Commerce, intended to contribute to the CHIPS and Science Act.

It further stated that the decision to build a third semiconductor plant is driven by strong customer demand and aims to meet the growing need for advanced semiconductor products in the US.

"TSMC today announced that the U.S. Department of Commerce and TSMC Arizona have signed a non-binding preliminary memorandum of terms (PMT) for up to US$6.6 billion in direct funding under the CHIPS and Science Act. TSMC also announced plans to build a third fab at TSMC Arizona to meet strong customer demand leveraging the most advanced semiconductor process technology in the United States," the statement read.

The statement also indicated that, in addition to the $6.6 billion in direct financing, the memorandum also provides access to up to $5 billion in loans for TSMC.

  • Taiwan
  • Chips industry
  • Chip shortage
  • TSMC

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