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TSMC hikes capex to record $28bn as chip race heats up

Taiwanese titan logs highest revenue in 2020 and says 5G will fuel further growth

TSMC will spend $25 billion to $28 billion on plants and equipment this year, around 80% of which will go to the company’s three most advanced chip production technologies. (Photo by Akira Kodaka)

TAIPEI -- Taiwan Semiconductor Manufacturing Co. said on Thursday that it will raise its capital spending to record levels as the world's biggest contract chipmaker looks to maintain its lead in semiconductor production technology.

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