Taiwan foundry TSMC approves US$2.89 billion for capacity expansion in ‘mature technology’ amid chip shortage

  • The Taiwan company this month said it plans to invest US$100 billion over the next three years to increase capacity
  • TSMC has flagged ‘multiple years of growth opportunities’ as Covid-19 fuels demand for advanced chips

The TSMC logo is seen at its headquarters in Hsinchu, Taiwan. Photo: Reuters

Taiwan Semiconductor Manufacturing Co’s (TSMC) board has approved US$2.89 billion in spending to increase capacity, the company said on Thursday, responding to a global chip shortage that has affected carmakers in particular.

In a brief statement, the world’s largest contract chip maker said its board had approved the spending “for the purpose of installing mature technology capacity”. It did not elaborate.

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