TSMC's investment will total $165 billion at full buildout with six fabs, two advanced packaging facilities and a research and development center. That's the largest investment in Arizona's history and the largest foreign direct investment in the U.S. "It's incredible isn't it?" Mackay said.

Read more about Taiwan-based TSMC's plans to invest $100 billion more in its semiconductor manufacturing operations in Arizona to advance AI efforts.

The investment will go into building three new fabrication plants in Phoenix, Arizona, as well as two packaging facilities and a research center.