Chip giant Taiwan Semiconductor Manufacturing Co. plans to invest an additional $100 billion in the United States, President Donald Trump announced Monday as he appeared with the company’s head at the White House.

Taiwan Semiconductor Manufacturing Co. – the world’s biggest chipmaker – will invest at least $100 billion to expand chip manufacturing in the US. During a press conference on Monday, President Donald Trump said the funding would go toward building two additional chip manufacturing facilities in Phoenix, Arizona.

In a joint announcement with the Trump Administration, TSMC pledged to spend $100 billion on chip facilities in the U.S.

NVIDIA and Broadcom are running manufacturing tests with Intel and its new 18A process node, with AMD still thinking about using Intel's 18A process.

President Donald Trump announced Monday that chip giant Taiwan Semiconductor Manufacturing Co. plans to invest $100 billion in the United States, including its Phoenix-area sites.

Chief Executive Rodney McMullen resigned after a board investigation into his personal conduct. Shares fell

Taiwan's economy minister said on Tuesday his ministry had not received information about an overseas investment application by Taiwanese chipmaker TSMC , when asked about possible investment in Intel and the United States.