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Global Wafers expands in Texas, Virgin Galactic Eyes 2026, and Buffett trims banks.

Global Wafers, a TSM supplier, is looking to boost its investments in the U.S. to $7.5 billion

amid increased demand.

The Taiwan-based semiconductor silicon wafer company plans to more than double its U.S.

investment by $4 billion from a prior commitment to meet growing customer demand. The increased

commitment was announced at the opening of Global Wafers' new $3.5 billion wafer facility in Texas on Thursday. Plans to build the state-of-the-art

factory in Sherman was first announced in 2022. At full build-out, the multi-stage 3.2 million

square foot site marks the largest facility of its kind in the U.S. During the opening ceremony in Sherman,

the company announced plans to add two more phases to the site

to expand production capacity.

The campus currently has one operational phase

and a second slated for construction,

with room to support up to six phases in total.

The chairperson of Global Wafers told reporters that while there's no fixed timeline for the

additional phases, several conditions must be met before proceeding.

The facility is part of the Biden administration-era Chips for America program,

with a company set to receive $406 million in federal grants

for its projects in Texas and Missouri. Virgin Galactic is up 19% in pre-market action. Shares climbed

after the space tourism company posted better than expected Q1 results and reaffirmed its timeline for upcoming

space flights. The first mission with its new spaceship carrying research payloads remains on

...