Potential projects in the United Arab Emirates could be worth more than $100 billion, though major hurdles remain.

TSMC and Samsung Electronics have discussed building huge factory complexes in the United Arab Emirates that could transform the chip industry in the coming years, the Wall Street Journal reported on Sunday.

Samsung Electronics (OTCPK:SSNLF) and Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) (OTC:TSMWF), better known as TSMC, have discussed the possibility of building giant factories in the United Arab Emirates that would transform the region for growth in artificial intelligence,