Chip-manufacturing company TSMC reported a record Q4, with a 16.4% rise in profit. The company expects record chip demand in the coming years and is going ahead with its 2021 plan for a $100b expansion of its facilities.
TSMC has earmarked $40-$44b in 2022 order for increasing its manufacturing capabilities – that’s up from $30b in 2021. TSMC is the largest chip manufacturer in the world and is the main manufacturer for Apple and Qualcomm, among others.
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TSMC expects a ‘multi-year industry megatrend’ for strong chip demand, boosted by technologies such as AI and 5G, and the need for high-speed silicon in smartphones, computers, cars, and all sorts of machines.