TSMC will build one of world's most advanced chips plants in Phoenix

The big picture: TSMC will receive up to $6.6 billion from the CHIPS Act, and the company will invest an additional $25 billion to build the semiconductor fabrication plant, or fab, by 2030.

• That fab, and another expected to open in 2028, will manufacture 2-nanometer chips — the most sophisticated semiconductors to date.

What they're saying: "For the first time ever, we will be making at scale the most advanced semiconductor manufacturing chips on the planet here in the United States of America," Commerce secretary Gina Raimondo told reporters.

Zoom in: This brings TSMC's total Arizona investment to $65 billion — the largest foreign direct investment in a new project in U.S. history, Raimondo said.

• The third fab is expected to create about 6,000 tech jobs and 20,000 "high-paying construction jobs," she said.

Between the lines: The funding provided by the CHIPS Act will include $50 million to train and develop Arizona talent.

• TSMC has cited a lack of skilled workers in the state as part of the reason its first fab is not yet operational.

Zoom out: President Biden visited Chandler last month to announce $20 billion for Intel's U.S. expansion.

• Since January 2020, Arizona has attracted more than 35 semiconductor company expansions, representing more than 13,000 jobs, according to the Arizona Commerce Authority.