Short-term business costs include the purchase of inventory (e.g raw materials), day-to-day operating expenses and resolvement of short-term debts. Exact areas of expenditure have not been declared to the public, but Taiwanese media outlets believe that the second phase of funds will be marked for working capital expenses at the North American division. This request was approved by the commission yesterday (September 18)-a $3.5 billion cash injection was already given the thumbs-up back in March. Mid-last month, the TSMC executive board sought approval from Taiwan's Investment Commission for an additional overseas spend (the Arizona operation is registered as a subsidiary company). Mass production at the Arizona foundry has been delayed into 2025 due to behind-schedule equipment installations and various workforce-related issues, but a limited trial run is reported to begin early next year. TSMC has gained the Taiwanese government's approval to invest $4.5 billion in its main North American manufacturing hub-Fab 21 is located in the greater Phoenix area.
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