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What Taiwan risk? Island's chipmakers embark on $120bn buildup

20 new fabs ready or in pipeline, dwarfing planned investments in U.S. and Japan

Work on TSMC's new plants continues late into the night and on holidays as the chipmaker rushes to bring more capacity online. (Photo by Yu Nakamura)

TAIPEI -- Taiwan's chipmakers have launched an unprecedented investment spree worth around $120 billion that will strengthen their grip on the global market, even as the U.S. warns against overreliance on an island at risk of a Chinese invasion.

Southern Taiwan Science Park was a hive of activity in late May. Trucks rumbled along the road, hauling in materials like steel beams for the forest of cranes building ever more chip factories at the site.

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