TSMC says plans to invest $100 billion over next 3 years to meet chip demand
Reuters
Published Mar 31, 2021 10:55PM ET
Updated Apr 01, 2021 12:10AM ET
TAIPEI (Reuters) -TSMC said on Thursday it plans to invest $100 billion over the next three to increase capacity at its chipmaking plants, days after Intel Corp (NASDAQ:INTC) announced a $20 billion plan to expand its advanced chip manufacturing capacity.
Taiwan Semiconductor Manufacturing Co Ltd is the world's largest contract chip manufacturer with clients including Apple Inc (NASDAQ:AAPL) and Qualcomm (NASDAQ:QCOM) Inc.
"We are entering a period of higher growth as the multiyear megatrends of 5G and high-performance computing are expected to fuel strong demand for our semiconductor technologies in the next several years," the company said in a statement to Reuters.
"In addition, the COVID-19 pandemic also accelerates digitalization in every aspect," it said.
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Written By: Reuters
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