TSMC says plans to spend $100B on chip fabrication expansion over next 3 years

Amid a global computer chip supply drought, industry heavyweight and Apple partner TSMC on Thursday announced plans to invest heavily in expanding output capacity as rivals like Intel seek a larger piece of the pie.

TSMCTSMC said it plans to pump $100 billion over the next three years into an expansion of its chip fabrication capacity, with money earmarked for manufacturing and research and development of advanced semiconductor technologies, reports Bloomberg.As the world’s largest contract manufacturer of chips, TSMC produces silicon for customers like Apple, Nvidia, Qualcomm and more. Chips from the Taiwan company’s foundries end up in a variety of products, from smartphones to refrigerators and cars.

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