Chip-Making Company TSMC To Invest $100 Billion Into Expansion Plans Amidst Chip Crisis

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This comes as the world faces a shortage of semiconductor chips, with the crisis initially impacting the automotive sector but slowly seeping into and crippling the smartphone and electronics industry as well

Taiwan Semiconductor Manufacturing Co. (TSMC) has announced that it will be investing an amount of $100 billion over the next three years into the expansion of its plants. The contract chipmaking company had earlier, abandoned its plan to invest $25 million – $28 million into the development and production of advanced chips.

This comes as the world faces a shortage of semiconductor chips, with the crisis initially impacting the automotive sector but slowly seeping into and crippling the smartphone and electronics industry as well. Amid this scarcity, many companies across the globe have ventured into producing their own chips in order to ensure fulfilment of orders and maintain a steady supply for clients.

In a statement to Reuters, TSMC said, “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.”

Notably, rival chipmaker Intel had recently announced its plans to invest $20 billion into producing advanced semiconductor chips.

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