TSMC, the world’s largest chip manufacturer, will invest $2.9 billion in its chip facility in Taiwan.
As countries enter the race for investment incentives for chip production, important players in the industry are accelerating their investment plans.
TSMC told CNBC it plans to invest approximately $90 billion (about $2.87 billion) in an advanced chip packaging facility in Taiwan.
Expressing that there is a strong demand for chips due to artificial intelligence last week, TSMC is known as the largest manufacturer of the most advanced processors in the world, especially the chips found in iPhones, iPads and Macs.
TSMC also stated that the facility will be located in Tongluo Science Park in northern Taiwan, and that the investment is expected to create approximately 1,500 jobs.
CC Wei, CEO of TSMC, said in his presentation after the company’s second quarter balance sheet last week, “We are seeing a very strong demand for artificial intelligence right now. We have no problem supporting it in the first place.”