TAIPEI (Reuters) -TSMC said on Thursday it plans to invest $100 billion over the next three to increase capacity at its chipmaking plants, days after Intel Corp (NASDAQ:INTC) announced a $20 billion plan to expand its advanced chip manufacturing capacity.
Taiwan Semiconductor Manufacturing Co Ltd is the world's largest contract chip manufacturer with clients including Apple Inc (NASDAQ:AAPL) and Qualcomm (NASDAQ:QCOM) Inc.
"We are entering a period of higher growth as the multiyear megatrends of 5G and high-performance computing are expected to fuel strong demand for our semiconductor technologies in the next several years," the company said in a statement to Reuters.
"In addition, the COVID-19 pandemic also accelerates digitalization in every aspect," it said.