TSMC to invest $100-billion to meet chip demand

TSMC said it plans to invest US$100-billion (R1.5-trillion) over the next three years to increase capacity at its chip-making plants, days after Intel announced a $20-billion plan to expand its advanced chip manufacturing capacity.

Taiwan’s TSMC is the world’s largest contract chip manufacturer with clients including Apple and Qualcomm.

“We are entering a period of higher growth as the multi-year 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.

“In addition, the Covid-19 pandemic also accelerates digitalisation in every aspect,” it said.  — Reported by Ben Blanchard, (c) 2021 Reuters