Apple Chip Supplier TSMC Plans To Invest USD 100 Billion To Address Surge In Demand
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Taiwan Semiconductor Manufacturing Co., which provides chips to tech giant Apple, has plans to spend around USD 100 billion into advanced chips. The company will spend this amount over the time period of three years to meet the sudden surge in demands of semiconductors. TSMC is the largest manufacturer of advanced semiconductors in the world. This is a massive increase when compared to the amount it has already planned to invest in the current year. TSMC has decided to invest a capital expenditure of around USD 28 billion this year. But the company believes that recent trends and increase in demand have pushed it to spend more.
“TSMC has plans to invest USD 100 billion in the coming three years. This will be used for the research and development and manufacturing of advanced semiconductors,” the company said in a statement. The decision comes at a time when industries are facing a shortage of semiconductors. To address this global chip supply crunch, TSMC has said that it will work with all customers across industries to address the issue. “We are committed to working with our customers to address their concerns and find a viable solution,” it added.
However, experts are wondering how TSMC will finance the record outlay as it has USD 28 billion in cash and equivalents on the balance sheet at December end. The company will require enormous funds to complete the projected investment. TSMC is the world’s biggest semiconductor factory and chips produced by it go to almost every modern piece of electronics. Be it a smartphone maker or car manufacture, everyone is relying on TSMC for the semiconductors. TSMC CEO C C Wei recently told customers that the company is running at full capacity for the past 12 months to fulfill the demand of the industries. The company has even hired several employees and some new factories are under construction to meet the demand which has outpaced supply.
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