TSMC Cuts Capex by $1 Billion
Taiwan Semiconductor Manufacturing (TSMC) says it is reducing its capital expenditure budget this year by $1 billion to $11 billion, because of disappointing demand for smartphone chips this quarter. Last week Intel also revised down its capex plans by $1.3 billion to $8.7 billion. TSMC’s co-CEO, Mark Liu said that despite a “challenging” environment, the … Read more