TSMC is one of the biggest chip manufacturers in the hardware industry. It makes up roughly 28% of the world’s chip manufacturing, supplying some of the biggest companies with its products such as Apple, Qualcomm, AMD, ARM, and more.
Despite the ongoing chip shortage, TSMC has managed to increase its revenue by 20%. The company’s revenue jumped to $13.3 billion in the last quarter, which was notably higher than the same quarter last year.
Nonetheless, the company’s CEO has warned that the chip shortage is going to last throughout 2021, though car companies will have some of the pressure relieved near the end of the year.
Although TSMC is already the market leader, the company plans to invest around $100 billion to expand its production over the next two years. The Taiwanese chipmaker is doing so in hopes to raise the chip supply to deal with the ever-growing demand.
The company has already invested $12 billion into its chip-making facility in Arizona and it continues to expand its operations in other regions of the world.
Similarly, Samsung and other major companies are also working to expand their production capacity in order to settle the global chip supply issue. US President Joe Biden also announced over a hundred billion dollars of investment to help recover the chip-making industry.