04:16 AM EDT, 10/15/2024 (MT Newswires) -- (Updates to add company comments in the fifth paragraph.)

Taiwan Semiconductor Manufacturing ( TSM ) is looking to expand its presence in Europe, particularly for artificial intelligence chips, Bloomberg reported Sunday, citing a senior Taiwanese official.

"They have started construction of the first fab in Dresden, they are already planning the next few fabs in the future for different market sectors as well," Taiwan's National Science and Technology Council Minister Wu Cheng-wen told Bloomberg in an interview.

The report said that Wu did not provide a timeline for Taiwan Semiconductor's further expansion in Europe.

In an email to Bloomberg, the company said it is focused on its existing global projects and has no new investment plans at this time.

"There may be some misunderstanding, TSMC remains focused on our current global expansion projects and have no new investment plans at this time," Taiwan Semiconductor said in an email to MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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