Taiwan-based TSMC, the world’s largest semiconductor producer, plans to increase its capital spending by as much as 40% this year after it reported a 35% jump in its net profit for the latest quarter thanks to the boom in artificial intelligence, the company said on Thursday.
The east Asian island nation produces over 60% of the world’s semiconductors and over 90% of the most advanced chips, most of which are made by TSMC. That concentration that makes it a critical choke point for the advanced chips that power phones, cars, cloud computing, and now AI.
