Asian Tech Press (Jan 3) -- TSMC plans its 2023 capital expenditure (capex) to be nearly $40 billion, sources said.

After TSMC lowered its 2022 capital expenditure forecast to about $36 billion in October, supply chain sources said the world's largest chipmaker plans capital expenditures in 2023 that could approach $40 billion, expected to range between $38 billion and $39 billion, an annual increase of more than 5.6%.

Analysts believe that in order to meet the growth needs of the next three years, TSMC expected its 2023 capital expenditures to reach a new record high of nearly $40 billion, driven by three major factors, including advanced process expansion in Taiwan, overseas expansion in the U.S. and Japan, and the upgrade of mature processes.

TSMC always does not comment on market data, and plans to hold an investor conference on January 12, when the company may release its latest capital expenditure plan.