Taipei, Jan 25, 2026, 07:35 (GMT+8) — Market closed.
- TSMC’s shares on the Taipei exchange closed Friday up 0.57%, while its U.S.-listed ADRs gained roughly 2.3%.
- Taiwan’s president expressed interest in boosting semiconductor investment in Arizona following a tariff reduction agreement with Washington.
- A U.S. filing revealed board reshuffles at TSMC North America; investors now eye February 10 monthly sales data.
Taiwan Semiconductor Manufacturing Co’s shares closed modestly higher in Taipei on Friday. Its U.S.-listed ADRs, which represent the same foreign shares in New York, jumped over 2% as the weekend approached. TSMC (2330.TW) ended the day at NT$1,770, up 0.57%, while TSM (TSM) finished at $334.87, gaining roughly 2.3%. (MarketWatch)
Timing is crucial—TSMC’s U.S. presence is now as much a political issue as it is about demand. Washington is pushing for advanced chip production on American soil, and TSMC plays a key role in the supply chain for top processors powering AI data centers.
The spotlight now moves beyond this week’s modest price changes to what lies ahead: tariffs, investment plans, and the expenses tied to building new factories. Capital expenditure, or capex, refers to funds companies allocate for plants and equipment—and it can significantly impact profits if demand or regulations shift.
On Friday, President Lai Ching-te told visiting Senator Ruben Gallego that Taiwan wants to see more semiconductor manufacturing and R&D hubs “springing up in the greater Phoenix area,” where TSMC is sinking $165 billion. Gallego called the investment from Taiwanese firms, “especially TSMC,” “impressive” and labeled Arizona “the envy of other states,” Reuters reported. These remarks followed a U.S.-Taiwan agreement that cut U.S. tariffs on Taiwan’s exports from 20% to 15%, including $250 billion in planned Taiwanese corporate investment in U.S. industries plus an additional $250 billion credit guarantee. (Reuters)
A U.S. filing dated Jan. 23 revealed changes on the board of TSMC North America, the chipmaker’s subsidiary as it expands stateside. It noted David Keller stepped down as director, while Sylvia Fang and Sajiv Dalal were elected to the board the same day. TSMC’s website lists Dalal as president and CEO of TSMC North America, with Fang serving as general counsel and corporate governance officer. (SEC)
Chip sentiment in the U.S. took a hit as Intel’s shares fell sharply on Friday. The company warned its upcoming quarterly revenue and profit would miss estimates, highlighting how fast the outlook can change in this industry. (Reuters)
TSMC has cited AI demand to back its hefty spending spree but warned about the dangers of moving too quickly. CEO C.C. Wei admitted this month that the company was “very nervous” about its 2026 capex target of $52 billion to $56 billion. That comes after TSMC predicted strong growth and highlighted plans for expanded U.S. capacity. (Reuters)
A Reuters report earlier this month cited IDC analyst Phil Zeng, who called “the explosive growth of the AI server accelerator manufacturing market” the “main driver,” pointing to rising demand for chips that train and run AI models. (Reuters)
The downside risk is clear. Trade deals and tariff relief can shift rapidly, and U.S. discussions about steep semiconductor import duties have rattled Asian chipmakers. Taiwan’s closer ties with Washington could also escalate tensions with China. (Reuters)
The upcoming week features the usual macro triggers. Investors will focus on a packed schedule of major U.S. tech earnings to gauge AI spending trends, while the Federal Reserve’s meeting on Jan. 27-28 could sway the dollar and risk appetite, often impacting chip stocks. (Reuters)
Traders in Taipei will keep a close eye on TSMC for updates on its Arizona investment plans and any fresh details about tariff terms, particularly if officials suggest these tariffs are meant to encourage moving more high-end production abroad.
TSMC’s next key data release is set for Feb. 10, when it will report January monthly sales. This figure offers an early glimpse into demand trends, ahead of the full quarterly earnings. (TSMC)
