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May 16 – According to the New York Times, the Trump administration is considering establishing a $1.7 billion fund to compensate allies investigated by the Justice Department during former President Bidens term, a move that would create a moral, legal, and political minefield for Republicans and Justice Department leadership. According to three people familiar with the matter, this unusual plan has not yet been finalized or approved. Democrats and former administration officials have criticized the plan as a massive, taxpayer-funded secret political fund. The proposal is a response to various allegations brought by President Trump against the federal government he controls. He has sought compensation for leaked tax returns during his first term, post-leave investigations into his handling of classified documents, and investigations into potential ties between his 2016 campaign and Russia. The idea of establishing a government fund to pay Trumps political allies has gained increasing support internally as the Justice Department and the White House attempt to resolve Trumps $10 billion lawsuit against the IRS, which he filed in January. Officials familiar with the details revealed that establishing a compensation fund for Trumps allies, but not for the president himself, could provide a short-term solution, allowing the president to obtain tangible benefits from the lawsuit before a judge dismisses it.Market news: BlackRocks private credit fund valuation is under investigation by the U.S. Department of Justice.According to SEC filings, Berkshire Hathaway reduced its stake in Chevron (CVX.N) by 35.2%, down to 84.4 million shares.SEC filings show that Berkshire Hathaway has sold off all of its Amazon (AMZN.O) shares.S&P: As a major net exporter of crude oil and an emerging producer of refined products, Nigeria has been less affected by the Middle East conflict.

In Taiwan, TSMC Began Mass Production of Advanced Processors

Aria Thomas

Dec 30, 2022 11:19

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Taiwan Semiconductor Manufacturing Company Ltd (TSMC) began mass production of its most advanced chips in southern Taiwan on Thursday, and the company's chairman predicted that the island would continue to see capacity increase.


Long-awaited mass manufacturing of chips using 3-nanometer technology occurs as domestic and international attention focuses on the investment plans of the world's largest contract chipmaker. TSMC enjoys a commanding market share as the primary manufacturer of sophisticated processors used in everything from cell phones to combat jets.


During a ceremony commemorating the development of Tainan's production and capacity, TSMC Chairman Mark Liu stated, "TSMC maintains its technological leadership while investing significantly in Taiwan, continuing to invest and prosper with the environment."


Liu claimed that demand for the company's 3-nanometer chip was "very solid," fuelled by the introduction of new technologies such as 5G and high-performance computing solutions. He did not elaborate.


This month, TSMC stated that its planned investment in its new Arizona factory would be increased to $40 billion, making it one of the largest foreign investments in U.S. history.


The Taiwanese firm, whose major clients include Apple Inc (NASDAQ:AAPL) and Nvidia (NASDAQ:NVDA) Corp, is also establishing a chip plant in Japan and has announced that it is exploring a future expansion into Germany.


As an apparent response to concerns that TSMC's offshore investment would erode Taiwan's leading position in semiconductors, Liu remarked that the output was evidence that TSMC was "taking concrete steps to develop advanced technologies and expand capacity in Taiwan."


The Taiwanese government has dismissed concerns of a "goodbye to Taiwan" trend in the chip industry, stating that the island's position as a major semiconductor producer and manufacturer of the most powerful processors is secure.


According to Liu, the new 3-nanometer technology will develop end goods with a market value of $1.5 trillion within five years, and mass manufacturing is successful and yields are high.


TSMC announced that it was establishing factories in northern and central Taiwan to manufacture 2-nanometer chips for the next generation.


TSMC has said on multiple occasions that the majority of its manufacturing will remain in Taiwan.


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