Taiwan chipmaker TSMC to invest $100B to grow capacity

Chipmaker Taiwan Semiconductor Manufacturing Co plans to invest US$100 billion in the next three years in expanding its manufacturing capacity and supporting research and development, the company said yesterday.

The world’s biggest contract producer of semiconductors, TSMC said it anticipates faster growth thanks to long-term trends like the introduction of next-generation telecommunications and high-performance computing. The coronavirus pandemic, meanwhile, is revving up demand for electronic devices as the world relies increasingly on digitalization.

“TSMC is working closely with our customers to address their needs in a sustainable manner,” the company said in an emailed statement. It did not give further details about planned investments.

TSMC makes processor chips for major brands like Apple Inc and Qualcomm Inc. Surging demand pushed its revenue 18 percent higher in January-February from a year earlier, it reported earlier.