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Taiwan Semiconductor Manufacturing Co (NYSE:TSM) has received 62.5 billion New Taiwan dollars (US$1.95 billion) in subsidies from China and Japan since 2022.
In the first half of 2024, Taiwan Semiconductor won 7.96 billion New Taiwan dollars in subsidies from China and Japan after receiving 47.55 billion New Taiwan dollars in 2023 and obtaining 7.05 billion New Taiwan dollars in 2022, the Taipei Times cites from Taiwan Semiconductor’s financial data.
Also Read: AMD Expands AI Innovation With New R&D Centers In Taiwan
Taiwan Semi, a key supplier of Apple Inc (NASDAQ:AAPL) and Nvidia Corp (NASDAQ:NVDA) said the subsidies will help fund its investments in Kumamoto, Japan, and Nanjing, China.
Taiwan Semiconductor has also extended its reach to Germany and the U.S. Last week, Taiwan Semiconductor broke ground on its $11 billion German plant, backed by 5 billion euros in state subsidies.
Taiwan Semiconductor is ready to ramp up pricing for overseas projects to ensure a long-term gross margin goal of 53%.
Taiwan Semiconductor stock gained over 82% in the last 12 months thanks to the AI frenzy. Investors can gain exposure to the stock through iShares Semiconductor ETF (NASDAQ:SOXX) and First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV).
Price Action: TSM stock traded lower by 1.38% at $168.92 at the last check on Monday.
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