Taiwan's TSMC says working to overcome global chip shortage

TAIPEI - Taiwan's TSMC said on Friday it is actively supporting and working with all stakeholders to overcome a global semiconductor shortage, after its participation at a White House meeting on the issue.

"TSMC has been a strong partner in this effort, taking unprecedented actions to address this challenge," it said in a statement. 

"We are confident that our capacity expansion plan including the advanced 5nm semiconductor fab in Phoenix, Arizona - one of the largest foreign direct investments in U.S. history - will enable us to support the industry in driving long-term stability in semiconductor supplies."