Taiwan Semiconductor to announce plans for U.S. factory

Taiwan Semiconductor Manufacturing Co Ltd, the world's biggest contract manufacturer of computer chips, is expected to announce plans to build an advanced chip factory in the United States, according to a person familiar with the matter. The announcement, expected as soon as Friday, coincides with an effort by the administration of President Donald Trump to bring more foreign manufacturing back to the U.S.

The source said one possible location in Arizona. TSMC also has an older chip facility in Washington State. TSMC did not immediately return a request for comment. The Wall Street Journal earlier reported TSMC's plans.