Taiwan Semiconductor Manufacturing is set to make history with one of the largest foreign investments in the United States. The company will announce plans today to build its second chip plant in Arizona, increasing its investment in the state to $40B. The event will be attended by President Biden, as well as CEOs who will benefit from the increase in American chip production, like Apple's CEO Tim Cook, Micron's Sanjay Mehrotra and Nvidia's Jensen Huang. TSMC previously disclosed a $12B investment plan to build its first factory in Arizona that was slated to manufacture 5-nanometer chips.

Another shakeup at Salesforce is continuing to shake up the stock. Stewart Butterfield, the head of Slack, will leave the messaging and communications company that Salesforce acquired for $27B in August 2021. His departure follows another high-profile exit last week, which saw Salesforce co-CEO Bret Taylor - who is credited as the architect of the Slack deal - leave the company. The stock is down 48% YTD.

Things aren't looking so bright for the U.S. economy as American CEOs laid out their outlook in the latest index from the Business Roundtable. The CEO Economic Outlook Survey, which measures conditions over the next six months, declined 11 points from last quarter to 73, continuing a downward trend that has taken shape over the past year. The index even dipped below its long-run average of 84 since Q3 of 2020, though it remains above the expansion or contraction threshold of 50.