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TSMC kicks off record $24bn advanced chip project

World's top contract chipmaker boosts investment in bid to fend off Samsung

TSMC Chairman Morris Chang said fewer companies could afford to invest heavily in the costly semiconductor race. He was speaking at a ground breaking ceremony for its advanced 5-nanometer chip facility in Tainan on Jan. 26. (Photo by Cheng Ting-fang)

TAINAN, Taiwan -- Taiwan Semiconductor Manufacturing Co., the world's largest contract chipmaker by market share, on Friday kicked off an advanced chip project worth a record $24 billion to assure future growth amid accelerating competition with its biggest rival, Samsung Electronics.

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