The semiconductor giant looks poised for more expansion in Phoenix as it raises its annual capital budget and seeks permits for new fabs.

Wall Street steadied on Thursday as stocks in the artificial-intelligence industry bounced back following an encouraging report from a Taiwanese chip giant and as oil prices eased sharply.

Trump initially set the tariff at 32% on Taiwanese goods but later changed it to 20%. The new agreement slashes the tariff rate to 15%, the same as levied on other U.S. trading partners in the Asia-Pacific region such as Japan and South Korea.

TSMC (NYSE:TSM), the world’s leading producer of advanced AI chips, on Thursday reported a forecast-beating 35% surge in fourth-quarter profit to a record level, outlined strong growth expectations for the year ahead and indicated that additional manufacturing capacity in the United States is being planned.

The White House is working on a trade agreement with Taiwan that includes major investment pledges, and Taiwan Semiconductor's role in the deal could reshape the timeline and scale of its Arizona operations.

Global markets and politics are colliding as power, technology, and capital flow come under renewed strain. In the United States, escalating federal threats over civil unrest raise constitutional stakes,