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Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) obtained three construction permits for its new A14 wafer fabrication plant in Taichung.
The chipmaker is preparing to begin construction, according to the Central Taiwan Science Park Bureau.
The permits cover the chip production facility, a central utility plant for power and water, and three office buildings, the Taipei Times reported on Wednesday.
Also Read: Taiwan Semiconductor Expands In Japan With New $14 Billion Chip Factory
The A14 technology, or 1.4-nanometer process, will be 15% faster than the 2nm process at the same power.
With a 30% power reduction, the 1.4nm chip will have the same speed as the 2nm, which is scheduled to start commercial production later this year.
The chipmaker plans to start construction by year-end and begin mass production in the second half of 2028, investing roughly $49 billion.
The new facility has the potential to generate 485.7 billion New Taiwanese dollars ($15.85 billion) in annual production value and create about 4,500 jobs.
Taiwan Semiconductor's stock has surged more than 54% year-to-date, outperforming the Nasdaq 100's 24% gain.
The chipmaker's strong rally reflects its pivotal role as a key supplier for Big Tech leaders, including Nvidia Corp. (NASDAQ:NVDA) and Apple Inc. (NASDAQ:AAPL).
In a recent update, a tech industry insider dismissed claims that Taiwan is taking over the U.S. chip industry, highlighting that partnerships with Apple, Nvidia, and Broadcom Inc. (NASDAQ:AVGO) are fueling job creation and enhancing America's global competitiveness.
Speaking with the Taipei Times, tech reporter Owen Lin said Taiwan's semiconductor sector supports U.S. growth by supplying advanced, cost-effective chips to major American technology companies.
Price Action: TSM stock was trading lower by 0.25% to $304.34 premarket at last check Thursday.
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