TSMC shares fall as Taiwan plays down Intel expansion

TAIPEI: Shares in Taiwan Semiconductor Manufacturing Co Ltd (TSMC) fell on Wednesday after Intel Corp announced a $20 billion plan to expand its advanced chip manufacturing capacity, even as Taiwan’s economy minister sought to downplay the impact.

Intel said on Tuesday it will build two factories in Arizona and open its plants to outside customers, directly challenging the two other companies in the world that can make the most advanced chips – TSMC and South Korea’s Samsung Electronics Co Ltd.