TSMC Races to Ease AI Chip Bottleneck With Three New Packaging Plants in Taiwan
Veröffentlicht: 13.07.2026 um 02:42 Uhr, Redaktion boerse-global.de
The insatiable demand for advanced chip packaging is forcing TSMC to scale up its production footprint at a pace rarely seen in the semiconductor industry. On July 12, 2026, the Taiwanese foundry giant marked the ground-breaking of three new factories in the Chiayi Science Park’s second phase – the latest salvo in a campaign to unclog a bottleneck that has gripped the entire AI chip supply chain.
Minister of the National Science and Technology Council Wu Cheng-wen officiated the ceremony, highlighting that the 90-hectare site is designed to become a dedicated cluster for advanced packaging technology, with TSMC as its anchor. Two factories from the park’s first phase have already entered mass production since June 2026, and when both phases reach full capacity, the combined annual output is expected to be worth around NT$300 billion (US$9.35 billion) and create more than 9,000 jobs. The government envisions the Chiayi site as a linchpin in a nationwide corridor linking southern and central Taiwan into a seamless belt for AI and semiconductor production.
At the heart of the expansion is CoWoS – Chip-on-Wafer-on-Substrate, the packaging technology critical for Nvidia, AMD, and Amazon Web Services. TSMC has set a near-term target of boosting monthly CoWoS capacity to between 120,000 and 140,000 wafers by the end of 2026, with another leap to around 170,000 wafers per month by 2027. Yet even that may not be enough. The company’s current capacity is so strained that it is already routing overflow orders to Intel’s EMIB technology and to Taiwanese subcontractors such as ASE, SPIL, Powertech and KYEC. Reports suggest Nvidia is even considering outsourcing packaging for its next-generation Feynman GPU to Intel.
The capacity crunch comes as no surprise to analysts. Ahead of TSMC’s earnings conference on July 16, Citi raised its price target on July 6 from NT$2,875 to NT$3,800 – a 57% uplift – while reiterating a buy rating. Other institutions remain bullish but more measured: Goldman Sachs holds at NT$3,000, Nomura at NT$3,425, UBS at NT$3,400, CLSA at NT$3,330, Macquarie at NT$3,380, and Alethia at NT$3,500. The optimism is anchored on a strong second-quarter outlook: TSMC has guided for revenue of US$39 billion to US$40.2 billion, with consensus near the upper end – an increase of roughly 32% year-on-year. Gross margin is expected to land between 65.5% and 67.5%, after already surprising to the upside at 66.2% in Q1. Capital expenditure for 2026 is set at US$52 billion to US$56 billion, and Citi sees that climbing to US$75 billion to US$80 billion in 2027 and 2028.
Should investors sell immediately? Or is it worth buying TSMC?
The stock market is taking note. TSMC shares closed at €383.00 on Friday, up 40.29% year-to-date and nearly 95.41% over 12 months. That rally still leaves the stock 8.92% below its all-time high of €420.50 reached on July 1, 2026. The 50-day moving average stands at €369.57, meaning the stock trades about 3.6% above that level. Market capitalisation stands at roughly €1.98 trillion. Technically, the relative strength index is a neutral 50.7, while 30-day volatility clocks in at 55.17%.
Institutional positioning tells a tale of mixed conviction. Diversify Wealth Management raised its TSMC stake by 986% in the first quarter, ending with 122,414 shares worth US$41.37 million. Meanwhile, American Trust cut its position by 18.8% to 21,695 shares. Insider activity was modest: Chairman Che-Chia Wei bought 482 shares, while a vice president sold 200,000 shares at US$69.83 each.
Competition is also sharpening its knives. Japan’s Rapidus is trying to undercut TSMC on 2-nanometer wafers, offering a price of around US$21,000 against TSMC’s roughly US$30,000. Rapidus targets mass production in 2027, but analysts are sceptical that price alone will lure away large customers while TSMC commands an estimated 73% of the global foundry market. The Taiwanese champion is not standing still – it plans to raise prices on advanced processes by 5% to 10%.
TSMC at a turning point? This analysis reveals what investors need to know now.
As TSMC prepares to report June revenue on July 13 and hold its quarterly call three days later, the narrative is clear: AI demand is so strong that even the world’s largest chipmaker is scrambling to keep up. The new Chiayi factories, together with two additional packaging plants in Arizona slated to go online before 2029, represent a multi-year hedge against the very bottleneck that is driving its growth. Whether that growth will push the stock past its July high – or whether the capacity fixes arrive fast enough to satisfy Nvidia and its peers – remains the defining question for investors.
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