Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM) will pour an extra $100 billion into its Arizona facilities to cater to the burgeoning customer demand.
On Thursday, the chipmaker’s Chief Executive Officer C.C. Wei told an earnings conference that the additional funding is targeted at building several semiconductor logic wafer fabs for two-nanometer mass production technologies.
TSMC’s total investment in Arizona will now sum up to a whopping $265 billion.
Wei underscored the company’s dedication to fulfilling the escalating demand, stating, “This is to build several or more semiconductor logical wafer fabs for two-nanometer MP [mass production] technologies, as well as advanced packaging fabs to support the strong multi-year demand from our leading U.S. customers.”
The news comes as TSMC posted record second-quarter results, with net income surging 77.4% year over year to NT$706.56 billion ($22 billion), beating analyst estimates and marking its fifth consecutive record quarterly profit. Revenue climbed 36% to NT$1.27 trillion ($39.45 billion), also exceeding expectations.
