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TSMC plans to invest $2.8 billion in an advanced chip plant in Taiwan
TSMC will invest nearly $2.87 billion in an advanced chip packaging plant in Taiwan, reports CNBC. The company’s decision comes as global chipmakers seek to capitalize on the artificial intelligence boom. TSMC acknowledged last week that there is a strong demand for AI chips.
Taiwan Chip Manufacturing Company is the world’s largest advanced processors manufacturer. Semiconductors produced by TSMC are found in Snapdragon Android phones as well as the Apple iPhone, iPad and MacBook devices.
The investment was sparked by “the rapid growth of the AI market” which has “driven a surge in demand for TSMC’s advanced packaging,” according to a report from Taiwan’s official Central News Agency.
“For AI, right now, we see a very strong demand. For the front-end part, we don’t have any problem to support,” said TSMC’s CEO C. C. Wei during the firm’s second-quarter earnings report last week.