Japan Plans $189 Billion Bond Issuance as Record Budget Signals Expansionary Fiscal Policy 
BOJ Minutes Reveal Growing Debate Over Interest Rate Hikes and Inflation Risks 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccine Portfolio 
GLP-1 Weight Loss Pills Set to Reshape Food and Fast-Food Industry in 2025 
John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
Oil Prices Ease in Asia as Geopolitical Risks Clash With Weak Demand Outlook 
Warner Bros Discovery Weighs Amended Paramount Skydance Bid as Netflix Takeover Battle Intensifies 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
Saks Global Weighs Chapter 11 Bankruptcy Amid Debt Pressures and Luxury Retail Slowdown 
DOJ Reaches Settlement With Blackstone’s LivCor Over Alleged Rent Price-Fixing 
Boeing Wins $2.04B U.S. Air Force Contract for B-52 Engine Replacement Program 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
Italy Fines Apple €98.6 Million Over App Store Dominance 
Nvidia and Groq Strike Strategic AI Inference Licensing Deal 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
Taiwan Semiconductor Manufacturing Company (TSMC) is committing $2.9 billion to a new advanced chip packaging plant in Taiwan, aiming to capitalize on surging global demand for AI chips and to support major clients like Apple.
On Tuesday, July 25, TSMC confirmed to CNBC that it would invest around $2.9 billion or $90 billion in New Taiwan dollars. The Taiwanese semiconductor manufacturing firm acknowledged last week that there is a very high demand for AI chips, so it will take steps to ensure it can supply.
TSMC is a leading manufacturer of advanced processors, and some of its clients include Apple Inc. This means its chips are being used on iPhones, Macs, and iPad devices.
The company’s newest investment was triggered by the rapid development of the AI market today, and this growth caused a surge in demand for the Taiwanese chipmaker’s advanced packaging. TSMC said the plant is set to be built in Tongluo Science Park and expects to generate around 1,500 new jobs for the locals.
“For AI, right now, we see a very strong demand. For the front-end part, we do not have any problem to support,” C.C. Wei, TSMC’s chief executive officer, said in a statement. “We are increasing our capacity as quickly as possible, and we expect that these tightenings will be released next year, but in between, we’re still working closely with our customers to support their growth.”
In a separate press release, TSMC’s vice president and chief financial officer, Wendell Huang, also commented previously, “Our second quarter business was impacted by the overall global economic conditions, which dampened the end market demand, and led to customers’ ongoing inventory adjustment. Moving into the third quarter of 2023, we expect our business to be supported by the strong ramp of our 3-nanometer technologies, partially offset by customers’ continued inventory adjustment.”
Photo by: Briáxis F. Mendes (孟必思)/Wikimedia Commons (CC BY-SA 4.0)
