Asa Fitch, Alexander Ward, and Jiyoung Sohn of The Wall Street Journal report that potential projects in the United Arab Emirates could be worth more than $100 billion, though significant hurdles remain. They write:
Two chip-making giants have discussed building huge factory complexes in the United Arab Emirates that could transform the industry in the coming years and become a cornerstone for artificial-intelligence investments in the Middle East.
Top executives at Taiwan Semiconductor Manufacturing Co., the world’s largest chip maker, have visited the U.A.E. recently and talked about a plant complex on par with some of the company’s largest and most advanced facilities in Taiwan, according to people familiar with the interactions.
Samsung Electronics also is considering major new chip-making operations in the country in the years ahead, according to other people with knowledge of its strategy. Senior leaders of the South Korean company have visited the U.A.E. recently and discussed the possibility, they said. […]
Abu Dhabi has invested in the chip industry before, taking control of the former manufacturing operations of Advanced Micro Devices in 2008 as part of a spinoff. There were discussions then about a potential chip plant in the U.A.E. that never materialized. The spinoff, called GlobalFoundries, was listed in a U.S. initial public offering in 2021.
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