Hong Kong CNN —TSMC, the world’s largest chipmaker, says it plans to invest nearly 90 billion New Taiwan dollars ($2.9 billion) to build an advanced chip plant in Taiwan, as it expands production to meet booming demand for artificial intelligence (AI) products. Wei told analysts the company plans to roughly double its capacity for advanced packaging capacity in 2024 compared to 2023, in order to meet “strong demand” for AI chips from its customers, which include Nvidia (NVDA) and AMD (DOX). Advanced packaging in the semiconductor industry involves using high-tech methods to aggregate components from various wafers in order to create a more powerful computer chip. That’s the kind of AI underlying ChatGPT, Google (GOOGL)’s Bard, Dall-E and many of the other new AI technologies. TSMC is considered a national treasure in Taiwan, supplying semiconductors to global tech giants including Apple (AAPL) and Qualcomm (QCOM).

---

Persons: Hong Kong CNN — TSMC, C.C, Wei, “, TSMC, Dall Organizations: Hong Kong CNN, Nvidia, AMD, CNN, TSMC, Google, Apple, Qualcomm Locations: Hong Kong, Taiwan, Miaoli County, Hsinchu, Taipei, TSMC