TAIPEI—Taiwanese chip firm TSMC expects strong growth to accelerate in coming years due to booming semiconductor demand, as the tech giant on Thursday reported a record quarterly profit and said it plans to spend at least a third more than last year.
Soaring demand for semiconductors used in smartphones, laptops, and other gadgets during the COVID-19 pandemic has led to an acute chip crunch, forcing automakers and electronics manufacturers to cut production but keeping order books full at TSMC and other chipmakers.
