TSMC earmarks record $44 billion for chip manufacturing expansion in 2022
Photo by Walid Berrazeg/SOPA Images/LightRocket via Getty Images Chip manufacturer Taiwan Semiconductor Manufacturing Company (TSMC), which supplies silicon for Apple, Qualcomm, and other tech giants, plans to spend as much as $44 billion to increase its manufacturing capacity in 2022, Reuters reports. In its latest earnings release, the Taiwanese firm said it expects capital spending to be between $40 and $44 billion in 2022, up from a previous record of $30 billion in 2021.
It's not an entirely unexpected increase, given the company's previously announced plan to spend $100 billion on expanding its manufacturing capacity through 2023. But the record sum suggests it doesn't expect demand for chips to slow down anytime soon, despite some analyst warnings of potentials slowdowns in areas like...