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TSMC's (TSM) board has approved a $1.5B bond sale, which the chip foundry will use to fund a...

TSMC's (TSM) board has approved a $1.5B bond sale, which the chip foundry will use to fund a needed capacity expansion. To the approval of chip equipment makers such as KLAC and LRCX, TSMC has been ramping its capex as it scrambles to address strong demand demand from mobile chipmakers. The company recently announced it would spend $8B-$10B over the next several years to build a plant that would rely on next-gen 450mm wafers (larger wafers = lower costs).
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