0330 GMT - TSMC's planned $100 billion investment in the U.S. is likely driven by geopolitical concerns rather than financial returns, Morningstar analyst Phelix Lee says in a research note. TSMC has previously said that construction and manufacturing are both more expensive in the U.S. and its preference to keep research & design and manufacturing in Taiwan. TSMC will likely have to convince customers to pay more for the new fabs to maintain corporate-wide profitability given likely lower levels of U.S. government support, he says. The latest investment brings TSMC's cumulative investment budget in the U.S. to $165 billion and should extend TSMC's investment roadmap to around 2040. Shares are last at NT$1,025.00. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
March 04, 2025 22:30 ET (03:30 GMT)
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