TSM's Global Expansion Strategy: Growth Enabler or Margin Risk?

Key Takeaways Taiwan Semiconductor Manufacturing Company (TSM) , also known as TSMC, is aggressively expanding its global manufacturing footprint. In March 2025, it announced a new $100 billion investment in the United States, raising its total planned U.S. spend to $165 billion. This includes five wafer fabs, two advanced packaging plants, and a major research & development center. It's one of the most ambitious expansions in chip history. Construction on the first U.S. fab is done, and volume production i ...