China's microchip firms are rushing to snap up foreign engineers in China who were laid off after a crackdown by the US

The proposed plant will be located in Toayuan in Northern Taiwan, with TSMC yet to confirm the claim which came from a close source, Taiwan News said

The "Chips and Science" act provides about $52 billion in subsidies for US semiconductor production and an investment tax credit for chip plants estimated at $24 billion

Server chips had been the only remaining bright spot in memory chip demand that drove SK Hynix to report a 56% jump in operating profit

The bill provides about $52 billion in subsidies for US semiconductor production as well as an investment tax credit for chip plants estimated to be worth $24 billion

Tech experts say China will be dependent on foreign suppliers for years, so carmakers, who face a boom in demand and long supply delays, sometimes have to pay a premium to chip brokers

China chipmakers lack the technology to keep it at the forefront of chip design and manufacture, says Jefferies Group analyst Edison Lee.

Country plans to increase local production of chips as well as displays, advanced chemicals, networking and telecom equipment, batteries and electronics

An economist at a government-affiliated research institute warned that top chipmaker TSMC is speeding up expansion to the US and may decamp from Taiwan.

New facility near coastal city Shanghai will represent the company's biggest electronics investment in China to date.

Business secretary Kwasi Kwarteng said the acquisition of Newport Wafer Fab by Nexperia, a subsidiary of China's Wingtech, would face an investigation

Semiconductor Manufacturing International Corporation (SMIC) announced revenue of $1.8 billion in first three months ended March 31, a 16.6% rise from the previous quarter