Taipei, Feb. 11 -- Taiwan Semiconductor Manufacturing Co. (TSMC) approved a USD 44.96 billion capital budget on Tuesday to expand its advanced and speciality technology capacity amid a global surge in demand for artificial intelligence.

The decision, made during the company's first-ever board meeting in Kumamoto, Japan, allocates funds to upgrade advanced packaging, construct new fabrication plants, and install essential facility systems.

As per a report by Focus Taiwan, the massive appropriation ensures the chipmaker can fulfil its long-term technology roadmap. The company stated that the funding targets the installation and upgrade of advanced, mature, and speciality technology capacity to meet rising global requirements.

In a meetin...