TSMC Yet to Submit Details of $100 Billion U.S. Chip Investment for Approval, Say Taiwanese Officials

Despite making headlines in March for a landmark announcement alongside former President Donald Trump regarding a $100 billion expansion of its U.S. semiconductor operations, Taiwan Semiconductor Manufacturing Company (TSMC) has not yet submitted the necessary documentation for governmental review in Taiwan, according to top officials within the island nation’s Ministry of Economic Affairs.

As confirmed by Minister of Economic Affairs J. W. Kuo and Su Chi-yen, Deputy Director General of the Ministry's Department of Investment Review, the Taiwanese government has not received any formal investment application from TSMC pertaining to this expanded U.S. initiative. Under current Taiwanese regulations, any overseas investment exceeding NT$1.5 billion (approximately USD $46 million) must undergo a rigorous multi-department review process to receive formal approval. This standard process ensures regulatory oversight and transparency in the movement of large-scale capital outflows from Taiwan to foreign nations.

Su Chi-yen clarified this point in response to inquiries during a caucus session, noting that no documents or investment applications related to the $100 billion plan have been presented for review. Minister Kuo echoed this position during a separate legislative session, further underlining the government’s lack of official knowledge about the proposed expansion, despite its wide coverage in global media.

The $100 billion investment plan, unveiled publicly by TSMC and Trump earlier this year, is an extension of the company's ongoing $65 billion commitment in the United States, which includes the establishment of advanced semiconductor manufacturing facilities in Arizona. The Arizona operations are expected to fabricate 2-nanometer process nodes, intended to bolster the domestic semiconductor supply chain in the U.S. and reduce strategic dependence on Asian chip manufacturing. This initiative has been particularly significant to firms like NVIDIA, which is set to use TSMC’s U.S.-produced wafers in its future AI-focused GPU designs.

The new tranche of investment, if realized, will include three new manufacturing plants, two advanced packaging facilities, and a dedicated R&D center, all to be established within the United States. However, despite its prominence in policy discussions and financial forecasts, the absence of an official investment filing in Taiwan raises concerns about timing, planning, and intergovernmental communication. These questions have become more pressing given Taiwan’s need to balance domestic economic interests with its support for TSMC’s global expansion.

Minister Kuo has faced domestic criticism for his initial lack of awareness of the deal’s magnitude. In recent comments, he explained his prior reluctance to speak publicly was due to insufficient information about the agreement’s financial scope. Meanwhile, the Taiwanese legislature has been actively debating the broader implications of U.S. trade and import policy, particularly in light of shifting geopolitical alignments and energy trade expectations, such as Taiwan’s interest in increasing energy imports from regions like Alaska in response to American demands.

In its latest earnings call, TSMC confirmed that it is not pursuing any merger or joint venture with Intel, a move that had been widely speculated in financial markets and had generated significant volatility in semiconductor equities. Instead, the firm reaffirmed its commitment to expanding its independent footprint, both domestically and internationally.

As the world’s leading contract semiconductor foundry, TSMC’s every move carries global implications—technologically, economically, and politically. The lack of immediate filing for this monumental U.S. investment may reflect routine procedural lag or could point to more complex negotiations still taking place behind the scenes. Either way, all eyes remain on both Taipei and Washington as the world waits for formal progress on what could become one of the largest foreign direct investments in U.S. industrial history.

What do you think is behind TSMC’s delay in submitting official documentation for the $100B U.S. investment? Are you concerned about the balance between Taiwan’s economic interests and global semiconductor strategies? Let us know in the comments.