The podcast discusses TSMC's partnership with Arizona, potential expansion of the Aukus security pact with Japan, and the UK's allocation of fines to environmental projects. It also touches on TSMC's investment in AI chips, US government's initiatives in chip production, and the strategic importance of semiconductors in national security.
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Quick takeaways
TSMC invests in Arizona to boost US chip production and respond to geopolitical risks.
US, UK, Australia, and Japan contemplate expanding security partnership under Aukus pact in response to China's military advancements.
Deep dives
UK Allocates Funding to Address Sewage Pollution
The Environment Agency for England and Wales is allocating 11 million pounds to local water projects, sourced from fines imposed on water companies like Thames Water. The move aims to address public dismay over sewage pollution, with reports of companies discharging raw sewage into British water bodies. Despite this effort, green groups argue that the allocated amount is insufficient to significantly enhance the UK's water quality.
Expanding Security Pact with Japan
Defense ministers from the US, UK, and Australia are contemplating expanding their security partnership by incorporating Japan into their existing security arrangement, Ocus. This initiative primarily focuses on bolstering security collaboration in response to China's military advancements. Japan's potential participation would likely involve areas such as hypersonic weapons technology, although no concrete details were disclosed in the announcement.
TSMC's Chip Production Expansion in the US
Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest chip maker, has committed to producing its most advanced chips in Arizona, contributing to President Biden's efforts to enhance domestic chip manufacturing. Initially hesitant, TSMC's decision to expand its operations in the US was predominantly influenced by customer demands, such as Apple and Nvidia, for diversified production locations in light of geopolitical risks like Chinese threats towards Taiwan. The US government's initiatives, like the Chips and Science Act, further support onshoring chip production for national security reasons.
The US, UK and Australia on Monday said they were considering working with Japan in the trilateral Aukus security pact, the world’s biggest chipmaker will build cutting-edge facilities in Arizona in exchange for billions of dollars in subsidies, and the Environment Agency for England and Wales is allocating £11mn collected in fines against water companies, to environmental restoration projects.
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.