TSMC could be fined $1B or more to settle U.S. probe, Reuters says

Taiwan Semiconductor Manufacturing could face a fine of $1B or more to settle a U.S. export control investigation over a chip it made that ended up inside a Huawei AI processor, two people familiar with the matter told Reuters’ Karen Freifeld. The U.S. Department of Commerce has been probing the chipmaker’s work for China-based Sophgo, whose TSMC (TSM)-made chip matched one discovered in Huawei’s high-end Ascend 910B AI processor, the author notes. Shares of TSMC are up nearly 2% near noon.