Asia Tech Wire (Aug 14) -- TSMC's board of directors met Tuesday and passed a resolution approving a capital allocation of about $29.6 billion to upgrade advanced technology capacity and build fabs.

It also approved a capital injection of up to $7.5 billion into TSMC Arizona, TSMC's wholly owned subsidiary in the U.S.

Since May 2020, when it first announced the establishment of a factory in the U.S., TSMC has successively planned to build three factories in Arizona, with a cumulative investment of up to $65 billion.

But so far, TSMC Arizona has not produced any semiconductor products.