The world's largest contract chipmaker is searching for new locations to increase its domestic manufacturing capacity in the United States. TSMC is evaluating a potential investment of at least $20 billion to establish a new fabrication campus in Texas, Bloomberg reports, which would add tens of billions of dollars to the company's multiyear efforts to scale semiconductor production.

The proposed Texas project would supplement a $265 billion commitment already pledged for manufacturing facilities in Arizona. While the company has not finalized its plans for the Texas site, the move is designed to expand the company's production footprint to meet projected years of chip demand.