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(Bloomberg) -- Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. have discussed building major new factories in the United Arab Emirates in coming years amid the rise of artificial intelligence, the Wall Street Journal reported. Most Read from Bloomberg The Moonshot Plan to Eliminate Deaths on America’s Roads AOC Proposes $30 Billion Social Housing Authority Belfast’s Grand Central Station Creates New Era for Northern Ireland’s Public Transport New York City’s Transit System Plans $65.4 Billion of Upgrades for Grand Central, Subways Executives from TSMC, the world’s largest chipmaker, have visited the UAE recently to discuss building a plant complex that could rival the company’s advanced facilities in Taiwan, the newspaper said Sunday, citing people familiar with the interactions. South Korea’s Samsung has also sent emissaries to the Middle Eastern country recently to talk about major new operations there, the Journal said, citing separate people with knowledge of the company’s strategy.
The Journal said the discussions are in early phases and the projects might not pan out, given the array of technical and other hurdles they face. Projects of the scale under consideration could cost more than $100 billion to complete, the paper said. Most Read from Bloomberg Businessweek The Man Who Made Nike Uncool In Yosemite, Problems With Concessions Keep Piling Up Xbox’s President on Handheld Consoles and Subscription Gaming Why Get An MBA? Recent B-School Grads Weigh In The Fed Risks a Political Backlash by Spurring Economy Close to Election ©2024 Bloomberg L.P. View comments
TSMC, Samsung Weigh Adding Chip Factories in UAE, WSJ Says
September 22, 2024 10:39 PM BST | By EODHD
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