Taiwan Semiconductor Manufacturing Co has begun producing advanced four-nanometer chips for U.S. customers in Arizona, Commerce Secretary Gina Raimondo told Reuters, a milestone in the Biden administration's semiconductor efforts.

Net revenue rose 33.9 percent to NT$2.9 trillion ($87.8 billion), the company said in a statement, ahead of the release of its complete earnings report next week.

Taiwan Semiconductor Manufacturing Co. (TSMC) has started producing advanced 4-nanometer chips in Arizona, marking a milestone in the Biden administrations semiconductor strategy. U.S. Commerce Secretary Gina

"For the first time ever in our country's history, we are making leading-edge 4-nanometer chips on American soil, American workers — on par in yield and quality with Taiwan," Raimondo told Reuters in an interview,