Federal, state and local officials held a groundbreaking ceremony Friday for Micron's $100 billion semiconductor chip fabrication plant near Syracuse.

In return, the United States will cap “reciprocal” tariffs on Taiwan at 15%, down from 20 percent. Commerce Secretary Howard Lutnick said the agreement could accelerate new chip projects in Arizona.

Washington — The U.S. and Taiwan have agreed to a deal that would lower tariffs on goods from Taiwan to no more than 15%, and boost Taiwanese semiconductor companies' financing for U.S. operations by half a trillion dollars, the Trump administration announced Thursday.

The U.S. and Taiwan clinched a trade deal on Thursday that cuts tariffs on many of the semiconductor powerhouse's exports, directs new investments in the U.S. technology industry and risks infuriating China.

SMH has soared 57.1% over the past year. The fund charges 35 basis points (bps) as fees. It traded at a volume of 9.94 million shares in the last trading session. This fund sports a Zacks ETF Rank #1 (Strong Buy).

Companies that provide picks and shovels for the artificial-intelligence boom jumped after record earnings from Taiwan Semiconductor Manufacturing Co. suggested that the AI rally still has room to run.

The U.S. signed a trade deal with Taiwan to revitalize its semiconductor sector through investment, credit guarantees and trade incentives.

This development follows media reports suggesting that several high-profile customers, including Nvidia and Broadcom, have asked TSMC to boost production in recent months, as their supply remains capacity-constrained. The shortage of AI-capable chips has been well documented and is expected to last well into next year.

Party General Secretary To Lam and Prime Minister Pham Minh Chinh on January 16 attended the ground-breaking ceremony of Vietnam’s first semiconductor chip manufacturing plant.

Taiwan Semiconductor Manufacturing Co. reported quarterly results that topped analysts' estimates on growing AI demand.