TSMC Expands Chip Production in Europe with $10.9 Billion AI Plants

Oct 14, 2024, 07:25 AM

Taiwan Semiconductor Manufacturing Company (TSMC) is expanding its global footprint by planning to build additional semiconductor fabrication plants in Europe. According to Cheng-wen Wu, the head of Taiwan’s National Science Council, the expansion will focus on manufacturing chips for various markets, including AI and automotive sectors. TSMC's first European chip plant, located in Dresden, Germany, is already under construction with an investment of $10.9 billion. This strategic move aims to diversify production and reduce reliance on Asia, while also responding to geopolitical tensions. The plans were reported by Bloomberg, and TSMC trades under the ticker $TSM.