Taiwan Semiconductor Manufacturing Co. plans to spend $100 billion over the next three years to expand its chip fabrication capacity, according to Bloomberg. The spending aims to address the booming demand for new technology.
TSMC already planned a record capital expenditure of as much as $28 billion this year, but recent trends and developments have pushed for more capacity.
The company has pledged to work with consumers across industries to overcome a rise in demand
It is unclear how TSMC, with $28 billion of cash and equivalents on its balance sheet at the end of December, intends to finance the record outlay.
Regarded as the go-to semiconductor foundry, TSMC has been running at over 100% utilization over the past 12 months, as demand outpaced supply
TSMC is already adding new employees and constructing new factories to cope with the demand.
Rivals Intel Corp. in March announced a $20 billion investment in two factories in Arizona while Samsung is spending more than $100 billion over a decade to expand its semiconductor business.TSMC stock is currently gaining. 2330: TPE is up 2.56%
