TSMC’s Revenue Increase by 20 percent Despite Global Chip Shortage

TSMC is one of the nation's biggest hardware chip makers. It accounts for about 28% of global chip production, providing its goods to some of the largest companies, such as Apple, Qualcomm and AMD, and ARM.

TSMC has managed to boost its income by 20 percent despite the current chip scarcity. In the past quarter, sales of the company jumped to $13.3 billion, which was much more than last year's similar period.

Nonetheless, the CEO of the company warned that the chip shortage will continue in 2021, although the burden on car companies will be reduced by the end of the year.

Although if TSMC has become the market leader, TSMC will invest about $100 billion over the next two years to boost its production. In the goal of boosting the chip supply to meet the rising demand, the Taiwanese chipmaker does this.

In its chip-making facilities in Arizona, the firm has already invested $12 billion and is continuing to expand operations in other parts of the world.

Also, Samsung and other major enterprises are increasing their production capacity to address the worldwide issue of chip supply. US President Joe Biden has also announced a total investment of more than a hundred billion dollars to help the chip-making industry recover.

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