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TSMC Set to Expand Chip Manufacturing with New Plants in Europe, According to Taiwanese Official

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Taiwan Semiconductor Manufacturing Co. (TSMC) is gearing up to expand its manufacturing capabilities in Europe, particularly targeting the burgeoning market for Artificial Intelligence (AI) chips. This strategic move comes as TSMC seeks to broaden its global footprint amid rising demand for advanced semiconductor technologies. A senior official from Taiwan has confirmed these plans, underscoring the importance of the European market in TSMC’s future growth strategy.

In an interview with Bloomberg TV, Wu Cheng-wen, Taiwan’s Minister of the National Science and Technology Council, disclosed that TSMC has already initiated construction of its first semiconductor fabrication plant (fab) in Dresden, Germany. He noted that the company is actively planning additional fabs for various market sectors beyond just AI, indicating a comprehensive approach to meet diverse industry needs. This expansion aligns with Europe’s ambitions to bolster its semiconductor manufacturing capabilities, reducing dependency on external suppliers.

While Wu provided insights into TSMC’s plans, he did not specify a timeline for the further expansion of the company’s facilities in Europe. This lack of a concrete schedule leaves questions about when these additional fabs will come online. In response to inquiries regarding its future plans, TSMC issued a statement indicating that it remains focused on its current global expansion projects. The company emphasized that, at this time, there are no new investment plans announced beyond what is already underway.

The expansion into Europe reflects a broader trend in the semiconductor industry as companies aim to enhance local production capabilities in response to global supply chain disruptions and increasing demand for chips. As the AI market continues to grow, TSMC’s strategic investments in European manufacturing are expected to position the company favorably to cater to the evolving technological landscape. This move not only strengthens TSMC’s competitive edge but also supports Europe’s goals of establishing a more resilient and self-sufficient semiconductor supply chain.

Chip Stocks Decline as ASML’s Weak Outlook Sparks Concerns Over Non-AI Chip Demand

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Semiconductor stocks in both the U.S. and Asia took a hit after ASML (ASML.AS), a prominent chip equipment maker, cut its annual sales forecast due to weak demand for non-AI chips. Despite strong demand for AI-related chips, such as those produced by industry giant Nvidia (NVDA.O), the broader semiconductor market is experiencing a slower recovery. This news sent ripples through the sector, dragging down major chip stocks.

Key Losses Across the Sector

Nvidia, which had recently surpassed Apple as the world’s most valuable company, saw a 4.5% drop in its stock price, wiping out approximately $158 billion from its market cap. This widened the gap with Apple, whose value sits at $3.56 trillion. Other major chip firms such as AMD (AMD.O), Intel (INTC.O), Arm, Broadcom (AVGO.O), and Micron (MU.O) fell between 3.2% and 5% by Tuesday’s close. The Philadelphia SE Semiconductor Index dropped nearly 5%, further weighing down the tech-heavy Nasdaq.

The sharp decline followed an apparent error by ASML, which prematurely released its quarterly results, revealing weak bookings and slower-than-expected recovery in chip demand, particularly outside the AI sector. This led to a 16% plunge in ASML’s U.S.-listed shares.

AI Demand vs. Broader Market Weakness

While the demand for AI chips continues to surge, fueled by growing interest in artificial intelligence and machine learning applications, other segments of the chip market remain tepid. Logic chip makers are delaying orders, and memory chip manufacturers are planning only limited new capacity expansions, which signals ongoing weakness in non-AI chip demand.

“ASML’s fat finger error isn’t cause for concern in itself, but the content of the release didn’t make comforting reading for investors,” noted Derren Nathan, head of equity research at Hargreaves Lansdown.

Asian Chipmakers Also Hit

Asian semiconductor companies, many of which are customers of ASML, also suffered losses. Taiwan Semiconductor Manufacturing Co (TSMC), Samsung Electronics, and SK Hynix all saw stock declines ranging from 2.2% to 2.5%. This further underscores concerns that the non-AI chip sector is slowing down, with chip factories having stabilized after racing to build extra capacity during the pandemic.

Samsung, which had earlier warned of disappointing third-quarter profits due to struggles in capitalizing on AI chip demand, continued to face pressure. On the other hand, TSMC, which supplies Nvidia, is expected to report a 40% jump in third-quarter profit, showcasing a more optimistic outlook for companies directly tied to AI chip production.

Geopolitical Tensions and Export Controls

Adding to market concerns, Bloomberg News reported that U.S. officials are considering placing a cap on AI chip export licenses to certain countries, particularly in the Persian Gulf. The move is driven by national security concerns that advanced American chips could be indirectly acquired by China, circumventing existing trade restrictions.

Danni Hewson, head of financial analysis at AJ Bell, remarked, “With the AI revolution expected to play such a huge part in upping productivity and enabling other technological advances, it’s not surprising the U.S. wants to do what it can to maintain its dominance.”

The combination of weak non-AI chip demand and increasing geopolitical tensions highlights the delicate balance chipmakers must navigate as they grapple with shifting market dynamics.

Asian Chip Stocks Plummet Following Nvidia’s Wall Street Sell-off Amid Antitrust Probe Concerns

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Asian semiconductor stocks faced significant declines on Wednesday after Nvidia’s sharp 9% drop on Wall Street overnight. This followed concerns about the U.S. economy and an antitrust investigation involving Nvidia. The sell-off hit major players across Asia, with SK Hynix falling over 6%, Samsung Electronics down 2.6%, and TSMC dropping 4.3%. Japan’s Tokyo Electron and Advantest also suffered heavy losses, reflecting the broader impact of Nvidia’s slump, which erased $279 billion from its market cap. The downturn highlights the global ripple effect of Nvidia’s performance in the semiconductor sector.