Taiwan's TSMC has announced a new investment of $100 billion for new chip operations in the United States.

President Donald Trump declared on Monday that Taiwanese semiconductor giant TSMC will invest at least $100 billion to construct five "cutting edge" manufacturing sites in the United States. TSMC, or Taiwan Semiconductor Manufacturing Co, which at the moment is the world's largest chipmaker, will invest much of these funds into the Arizona state.

With TSMC CEO C.C. Wei at his side, Trump declared at a White House event that this would generate "many thousands" of well-paying jobs. According to a statement from TSMC, the report stated that the outcome will include "three new fabrication plants, two advanced packaging facilities and a major R&D (research and development) team center," in addition to providing 40,000 construction employment over the following four years.

This occurs at a time when TSMC has been under pressure to relocate its operations from Taiwan because of concerns that disputes with China may cause disruptions in the supply of vital technology.