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TSMC, the leading semiconductor company in Taiwan, is putting in more money to make sure it can keep up with the increasing demands in the next three years. A total of $100 billion is set to be invested for the advancement plans.
Efforts to end the chip shortage
The Taiwan Semiconductor Manufacturing Company said on Thursday, April 1, that it would invest a big amount into advanced chips over the next three years. The massive investment is also for the development of the newest semiconductors that TSMC is planning to make this year.
The company is expecting to spend around $25 to $28 billion this year since the demand is really high due to the global chips shortage that has already disrupted the productions in many major companies. The lack of these chips forced tech and auto firms to temporarily shut down plants, and more are considering taking the same steps as well.
"In order to keep up with demand, TSMC expects to use the funds to increase capacity to support the manufacturing and research and development of advanced semiconductor technologies," TSMC said in a statement that was sent to CNN Business. In any case, the investment was well-received, and in fact, the company’s shares moved up by more than two percent on Thursday.
At any rate, 80% of the new investment will be utilized for advanced processing technologies. Wendell Huang, TSMC’s vice president and chief financial officer, said in January that the company is “entering another period of higher growth," and the funds are here now to make pioneering semiconductor products.
Company expansion to get ahead in the race
Chipmakers today are stepping up their games not only to help ease the chip shortage but to be the leading name in the semiconductor market too. And with competitors like Intel, TSMC is also expanding to create more and produce more chips for use in the next-generation tech businesses.
As per ABC News, the Taiwanese chipmaker is expecting faster growth in its business as it can supply state-of-the-art chips to advancing auto and telecommunication industries. Plus, it is capable of providing the semiconductor needs for the long term with its planned expansions today.
“TSMC is working closely with our customers to address their needs in a sustainable manner," the company said through an emailed message to ABC.
