Taiwan Semiconductor Manufacturing Co. has approved a capital budget of about $29.44bn for expansion as demand for artificial intelligence chips continues to grow.
The world’s largest contract chipmaker said its board approved the appropriations at a two-day meeting that concluded August 11, Focus Taiwan reports. The spending will support long-term capacity plans based on market demand forecasts and the company’s technology development roadmap.
TSMC said the budget will cover the installation of advanced technology capacity and construction of fabrication plants.
At an investor conference in July, TSMC raised its 2026 capital expenditure forecast to $60bn-$64bn from $52bn-$56bn announced in April. It cited strong global demand for 5G, AI applications and high-performance computing devices.
The board also approved a cash dividend of TWD7 per share ($0.21) for the second quarter, when earnings per share reached TWD27.25. The payout is unchanged from the first-quarter dividend.
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