TSMC says plans to invest $100 bln over next 3 years to meet chip demand

Credit: REUTERS/TYRONE SIU

TSMC said on Thursday it plans to invest $100 billion over the next three to increase capacity at its chipmaking plants, days after Intel Corp announced a $20 billion plan to expand its advanced chip manufacturing capacity.

Adds details from statement, background

TAIPEI, April 1 (Reuters) - TSMC 2330.TW said on Thursday it plans to invest $100 billion over the next three to increase capacity at its chipmaking plants, days after Intel Corp INTC.O announced a $20 billion plan to expand its advanced chip manufacturing capacity.

Taiwan Semiconductor Manufacturing Co Ltd is the world's largest contract chip manufacturer with clients including Apple Inc AAPL.O and Qualcomm Inc QCOM.O.

"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," the company said in a statement to Reuters.

"In addition, the COVID-19 pandemic also accelerates digitalization in every aspect," it said.

(Reporting by Ben Blanchard; Editing by Shri Navaratnam)

((vincentsy.lee@thomsonreuters.com; follow me on Twitter @Rover829;))

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