Taiwanese company TSMC, that makes chips for Apple's iPhones, will build a semiconductor facility in Arizona, US. TSMC said it plans to start its construction in 2021 with production targeted to begin in 2024. Its total spending on this, including capital expenditure, will be approximately $12 billion from 2021-2029. TSMC claimed it would create over 1,600 "high-tech professional jobs directly".