The news: Taiwan Semiconductor Manufacturing Co. (TSMC) announced its record spending plan for 2022 to meet continued demand for semiconductors in various industries.
Why it’s worth watching: TSMC is the world’s leading chipmaker, catering to every sector including smartphones, smart home, EVs and automotive, as well as PCs, and has indicated it intends to spend between $40 billion and $44 billion to expand capacity in 2022, per Bloomberg.
The bigger picture: TSMC is taking advantage of its leadership position to reinvest in increased production and output for 2022.
While various chip fab plants have been announced to bolster production, many of these will not be operational until 2024, giving TSMC and other chipmakers a limited runway to capitalize on their dominance.
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