TSMC (TSM.US) is reportedly planning to build more chip factories in Europe.

There are reports that TSMC (TSM.US) plans to build more factories in Europe, focusing on the AI chip market, to expand its global business. The reports say that TSMC has started building its first fab in Dresden, Germany, and plans to build several fabs in the future targeting different market segments. However, TSMC said in a statement that it is still focused on its current global expansion projects and has no new investment plans.

TSMC is the world's largest chipmaker, with most of its chips produced in Taiwan. The company is currently investing hundreds of billions of dollars in building new factories in the US, Japan, and Germany, among other places. In August, TSMC broke ground on a 10 billion euro chip manufacturing plant in Dresden, Germany, its first in the EU, with the German government providing 5 billion euros in subsidies for the plant.

Moreover, TSMC is facing further pressure to expand in the US regardless of the outcome of the November US election. The company has so far committed to investing over $65 billion in building three factories in Arizona.