12:04 PM EDT, 05/27/2025 (MT Newswires) -- (Updates throughout with the company's statement and latest stock move in the last paragraph.)

Taiwan Semiconductor Manufacturing ( TSM ) confirmed Tuesday that it is opening a new chip design center in Munich, Germany.

The design center, set to open in Q3, is "intended to support European customers in designing high-density, high-performance, and energy-efficient chips," the company said in an emailed statement to MT Newswires.

The center will focus on applications in automotive, industrial, AI, telecommunications, and IoT, the company said.

Shares of the company were up more than 2% in recent trading Tuesday.

Price: 196.46, Change: +4.48, Percent Change: +2.33