Leading global chip manufacturer Taiwan Semiconductor Manufacturing Company (TPE: 2330) will be investing $100 billion over the next three years to scale up its chip manufacturing capacity.
Currently, the Taiwan based company is the world’s largest contract chip producer. Some of the largest clients for TSMC include Qualcomm Inc. (QCOM) and IPhone manufacturer Apple Inc. (AAPL).
TSMC says the pandemic has been pushing up the chip demand across the world due to increased computer use as a result of remote working, online learning and increased gaming activities among other uses.
“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,” added TSMC.