Morris Chang, the founder of TSMC, said today that the company and Apple will build 3-nanometer chips in Arizona. The factory is under construction and is expected to be up and running in 24 years.

Chang said that TSMC has a plan but it has not been finalized. The same Arizona site is where phase two will be held. Phase one is five-nanometers and phase two is three-nanometers.

Up to 70% logic density gain, up to 15% speed improvement, and up to 30% power reduction are some of the benefits of TSMC's 3-nanometer technology. It wants to use volume technology in the second half of the year.

Half of the world's most advanced chips are made by TSMC. The dominance of Taiwan's Semiconductor companies is one of its major advantages against China, which considers Taiwan a province, but as worldwide chip shortages stymies the production of electronics, it also calls into question the supply chain's dependence.

TSMC has a factory in Arizona that is part of the Biden administration's plan to bolster U.S chipmaking. TSMC is in talks with the German government to build a second factory in that country.

TSMC is the leader in producing 3-nanometer chips, but other foundries are also working on the technology. Three-nanometer chips are being produced at the Hwaseong and Pyeongtaek Semiconductor facilities. Last year, the company said it would invest more than 120 billion KRW in its logic chip and foundry business.

Samsung Electronics starts 3-nanometer chip production ahead of TSMC