TSMC pledges another $100 billion for US chip expansion

Hong Kong: Major Taiwan computer chipmaker TSMC said Thursday it plans to spend another $100 billion on expanding its manufacturing capacity in the US. The latest commitment appears to bring the company's total pledges for investment in US chipmaking to $265 billion. It also raised its annual revenue forecast after booking record high profits thanks to runaway demand from the boom in artificial intelligence.

The world's largest contract chip manufacturing and one of the world's most valuable companies, TSMC is seen as a barometer for the global chip industry and for AI at a time when worries about a potential AI bubble have been buffeting financial markets.

TSMC, or Taiwan Semiconductor Manufacturing Co., is a key supplier to Nvidia and Apple. It had already committed $165 billion in the US for building plants in Arizona, with six fabrication facilities planned.