TSMC Says Capex to Be Near Low End of Target at $32 Billion
- Taiwan firm expects capex at low end of range despite AI surge
- Apple and chipmaker Nvidia will still expand to catch AI boom
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Taiwan Semiconductor Manufacturing Co. tempered its outlook for 2023 capital spending, as the main chipmaker to Apple Inc. grapples with soft demand for smartphone and computing chips.
Its capital expenditure should wind up closer to the bottom end of a previously forecast $32 billion to $36 billion range, Chairman Mark Liu told reporters after hosting the firm’s annual shareholders’ meeting on Tuesday. TSMC reaffirmed projections for revenue in the first half of 2023 to decline by about 10% in US dollar terms.