A Taiwanese chipmaking giant is tripling its investment in a semiconductor factory in Arizona, a move showing further interest in helping the United States compete with China in innovation after the passage of legislation supporting domestic chip production.

The Taiwan Semiconductor Manufacturing Company will invest $40 billion into its recently announced Arizona fabrication plant. That is three times as much as what the company had previously intended to invest into the new plant announced in November. The new investments will allow the company to open one additional factory and manufacture more advanced chips by 2026 at the Phoenix-based plant.