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TSMC Approves $2.8 Billion For Capacity Expansion: Report

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  • In a brief statement, the company said its board had approved the spending “for the purpose of installing mature technology capacity”.
  • Recently, TSMC had announced that it will be investing an amount of $100 billion over the next three years into the expansion of its plants
Image Source – Taiwan Semiconductor Manufacturing Company

As per a report by Reuters, Taiwan Semiconductor Manufacturing Co’s (TSMC) board has approved $2.89 billion in spending to increase capacity, the company said responding to a global chip shortage that has affected carmakers in particular. In a brief statement, the company said its board had approved the spending “for the purpose of installing mature technology capacity”.

Increase productivity and alleviate the worldwide shortage

The report added that TSMC has said it is working hard to increase productivity and alleviate the worldwide shortage but that supply tightness is likely to continue into next year. The company has flagged “multiple years of growth opportunities” as the COVID-19 pandemic fuels demand for advanced chips to power devices such as smartphones and laptops.

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Recently, TSMC had 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.

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