Apple Inc AAPL supplier Taiwan Semiconductor Manufacturing Co Ltd TSM has secured a key approval to build its most advanced semiconductor chip facility yet, Nikkei Asia reported on Wednesday, citing sources.
What Happened: TSMC received the final nod to build a 2-nanometer chip facility in Hsinchu, a key chipmaking hub in Taiwan, from the government and academic environmental regulatory body The Environmental Review Committee.
The construction will begin early next year and production equipment will be installed by 2023, Nikkei Asia noted.
See Also: Apple Supplier TSMC Explores Making First EU Chip Plant In Germany
The approval follows U.S. chipmaker Intel Corp’s INTC pledge on Tuesday to make the world's most advanced chips by 2024. The U.S.-based Intel is both a client and a competitor to Taiwan-based TSMC which is the world’s largest contract chipmaker.
Why It Matters: Chip-making companies are pouring in billions to develop smaller and quicker semiconductor chip technologies that vastly improve the computing prowess of appliances, smartphones, transportation systems, and critical infrastructure.
See also: How To Buy Apple Stock
The development drew a comment from Tesla Inc TSLA CEO Elon Musk who said the industry should count the number of atoms and get rid of the nm nomenclature.
At this point, just count atoms & dispense with nm
— Elon Musk (@elonmusk) July 28, 2021
Intel reportedly is going to stop referring to its latest generation of manufacturing technology based on the size of its semiconductor transistors, a departure from the traditional chip naming based on the size of the transistors on its semiconductors.
Price Action: TSMC shares closed 1.35% higher at $115.07 on Wednesday.
Photo: Courtesy of TSMC
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