The company to invest in manufacturing and R&D of advanced semiconductor technologies
Taiwan Semiconductor Manufacturing (TSMC) said that it plans to inject $100bn during the next three years to ramp up the capacity of its chipmaking plants.
The company is among the major contract chip manufacturers in the world, serving the likes of Apple and Qualcomm.
As per a statement given to CNN Business, TSMC said that it will boost capacity for supporting the manufacturing and research and development (R&D) of advanced semiconductor technologies for coping up with the demand.
Previously, the Taiwanese company said that 5G, high-performance computing, and other megatrends in the industry will drive robust demand over the next several years for semiconductor technology.
The semiconductor contract manufacturer also said that the coronavirus pandemic expedites digitalisation in all aspects.
Earlier this year, TSMC revealed plans to spend $25bn-$28bn in 2021, compared to a 2020 investment of $17bn. Nearly 80% of its 2021 investment will be put into advanced processing technologies.
TSMC claims to be the largest semiconductor foundry in the world. In 2019, the company is said to have manufactured 10,761 different products using 272 distinct technologies for nearly 500 customers.
Recently, Intel said that it will invest nearly $20bn for building two new semiconductor fabs in Arizona, US, as part of its major manufacturing expansion plans. The company also revealed intentions to become a leading provider of foundry capacity in the US and Europe for catering to customers across the world.