TSMC considering building advanced chip plant in UAE, Bloomberg says

TSMC (TSM) is evaluating building an advanced production facility in the United Arab Emirates and has discussed the possibility with officials in President Donald Trump’s administration, according to people familiar with the matter, a potentially major bet on the Middle East that would only come to fruition with Washington’s approval, Bloomberg’s Mackenzie Hawkins and Jenny Leonard report. The company has had multiple meetings in recent months with Steve Witkoff, the US special envoy to the Middle East, and officials from MGX, an influential investment vehicle overseen by the UAE president’s brother, the people said. Those conversations are a continuation of talks that began under President Joe Biden’s administration but had died down by the end of his term.