Taiwan Semiconductor Manufacturing Company, the world's largest contract chipmaker, has become one of the first big technology companies to bet on a recovery by restoring investment plans curtailed only months ago.
Morris Chang, TSMC's founder, who returned as chief executive a week ago, said yesterday the company planned to boost its manufacturing capacity and technological prowess.
He likened the economic downturn to a Greek tragedy, with the first act being the financial crisis and the second being the global economic slowdown. “In the end, there must be a third act: recovery,” Mr Chang said. “For our industry, I feel the worst is over. The path to recovery is long and may have some twists and turns . . . but the trend is upwards.”
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