TSMC said it has started construction at the Arizona chip factory site and plans to invest $12bn. CEO CC Wei in a presentation said the chip factory is on track to start mass production of its 5-nanometer chips by 2024. In the next decade and a half, TSMC plans to build six factories in the Arizona site. TSMC is Asia’s most valuable manufacturing firm with a valuation of $563bn. $100mn to be spent in the next three years for upgrading factory outputs, with $30mn in 2021.