Investing.com -- A speciality contract chipmaker partially-owned by Taiwan Semiconductor Manufacturing Company (TW:2330) has teamed up with NXP Semiconductors (NASDAQ:NXPI) in the Netherlands to create a joint-venture that will build a new $7.8 billion wafer facility in Singapore.
(Bloomberg) -- NXP Semiconductors NV is teaming up with a company partly owned by Taiwan Semiconductor Manufacturing Co. to build a $7.8 billion chip wafer plant in Singapore, marking a boost for the island nation’s tech ambitions.Most Read from BloombergBillionaire-Friendly Modi Humbled by Indians Who Make $4 a DayBehind ‘Suicide Squad,’ the Year’s Biggest Video-Game FlopA Struggling Business Park Deals a Blow to Singapore's Regional Hub Ambitions‘Everything Is Not Going to Be OK’ in Private Eq
The sector's shares were gaining on Wednesday, in line with the broader market as expectations for Federal Reserve interest-rate cuts increased.