Taiwan Semiconductor Manufacturing will pour $100 billion into bolstering chip manufacturing in the U.S., President Donald Trump announced Monday.

The announcement is the latest effort by President Trump to persuade companies to make big investments in the U.S.

Taiwan Semiconductor Manufacturing Co. – the world’s biggest chipmaker – will invest at least $100 billion to expand chip manufacturing in the US. During a press conference on Monday, President Donald Trump said the funding would go toward building two additional chip manufacturing facilities in Phoenix, Arizona.