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EM ASIA CREDIT: TSMC (TAISEM, Aa3/AA-/NR) to keep cutting edge technology local

EM ASIA CREDIT
BulletAPACTaiwan

TSMC (TAISEM, Aa3/AA-/NR) to keep cutting edge technology local

  • TSMC CEO, C.C. Wei, and the Taiwanese President, Lai Ching-te, spoke yesterday regarding TSMC's plans to invest an additional $100bn in the U.S. The press conference was designed to dispel concerns that TSMC is effectively shifting its focus towards the U.S., reducing a key competitive advantage for Taiwan.
  • The CEO made it clear that the investment was connected to rising demand by U.S. customers, and that next generation technologies will remain in Taiwan. Indeed engineers based in the U.S. will focus primarily on the optimisation of existing technologies.
  • These statements are in line with earlier comments made by the Taiwanese Economic minister Kuo Jyh-huei, in which he indicated Taiwan would review outbound investment to the U.S. as it related to chip making IP.
  • This may set up an interesting dynamic, that as demand rises for AI, autonomous vehicles and robotics technology, U.S. semiconductor technology may lag behind.
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TSMC (TAISEM, Aa3/AA-/NR) to keep cutting edge technology local

  • TSMC CEO, C.C. Wei, and the Taiwanese President, Lai Ching-te, spoke yesterday regarding TSMC's plans to invest an additional $100bn in the U.S. The press conference was designed to dispel concerns that TSMC is effectively shifting its focus towards the U.S., reducing a key competitive advantage for Taiwan.
  • The CEO made it clear that the investment was connected to rising demand by U.S. customers, and that next generation technologies will remain in Taiwan. Indeed engineers based in the U.S. will focus primarily on the optimisation of existing technologies.
  • These statements are in line with earlier comments made by the Taiwanese Economic minister Kuo Jyh-huei, in which he indicated Taiwan would review outbound investment to the U.S. as it related to chip making IP.
  • This may set up an interesting dynamic, that as demand rises for AI, autonomous vehicles and robotics technology, U.S. semiconductor technology may lag behind.
image