TSMC has been making a lot of money the past few quarters, smashing records with every new report it issues. That’s why it’s little surprise the company has set its estimated maximum spending budget at $44 billion for 2022. But where does all that money actually go?
According to a new report from Nikkei Asia, some of it’ll be heading toward the recruitment of over 8,000 employees, putting the company’s 2022 hiring rate on par with 2021’s.
MediaTek, meanwhile, plans on bringing more than 2,000 new employees aboard. It will be hiring across Taiwan and India.
No matter how many new hires they enlist, both companies have their work cut out for them this year thanks to the ongoing global chip shortage. Though experts predict many tech sectors will recover by the end of 2022 or, for those that are worse off, 2023, the effects may haunt consumers for some time. When it comes to something like the best graphics cards, NVIDIA estimates a lot of current issues will be alleviated by the second half of 2022. But the automotive industry faces a rougher path to recovery, compounded by domino-effect pipeline issues with entities such as the steel industry.
Regardless of what consumers face in the coming months and years, semiconductor manufacturers such as TSMC remain in a good position to keep supplying and profiting from larger-than-ever global chip demand.