TSMC is set to build a major semiconductor production hub in the U.S. for $165 billion, but the plans still need to be set.

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

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.