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TSMC plans to spend record $44bn on capacity expansion in 2022

Taiwan titan says demand will remain strong even if chip crunch eases

Growing demand for advanced chips used in AI and 5G-driven applications for cars, data centers and smartphones, contributed to TSMC's robust earnings.   © Reuters

TAIPEI -- Taiwan Semiconductor Manufacturing Co. said it will spend a record amount of up to $44 billion in 2022 to expand capacity as the world's biggest contract chipmaker aims to help alleviate the global chip shortage and meet surging demand for advanced chips used in AI and 5G-driven applications for cars, data centers and smartphones.

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