Taiwan-based semiconductor foundry TSMC announced that it will invest $34 billion to expand the production volume of 2nm process chips on June 5 with approval from the local administration for land rent, Taiwan media outlet UDN reported. Last October, the firm announced plans to realize mass production of 2nm process chips by 2025. Meanwhile, the CEO of TSMC, Wei Zhejia, told UDN in April that the firm would have the 3nm process ready for mass production in the second half of this year. [UDN, in Chinese]