TSMC Looks To Hire Over 8,000 People In 2022

Taiwan’s top two chipmakers plan to hire over 10,000 engineers in 2022 to bolster their aggressive expansion plans and maintain their technological edge, Financial Times reports. 

• Leading contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd TSM aims to hire about 8,000 engineers in 2022, similar to last year. 
• TSM is amidst its most significant expansion, with facilities being built and scaled up in Taiwan, the U.S., Japan, and China. 
• TSM looks to spend up to $44 billion in 2022 to ramp up production capacity to tap the growing demand for artificial intelligence and 5G-powered applications chips. 
• MediaTek Inc MDTKF, the leading mobile chip developer by shipments, aims to hire over 2,000 people in 2022. 
• The report adds that MediaTek, which recently surpassed U.S. mobile chipmaker Qualcomm Inc QCOM in the premium 5G market, hired over 2,000 engineers in 2021. 
• MediaTek aims to hire mainly in Taiwan. However, it will add a substantial number of employees in India. 
• MediaTek spent ~NT$100 billion ($3.6 billion) on R&D in 2021 and hiked the 2022 budget by 10% - 20%. 
• European chip equipment maker ASML Holding NV ASML looks to hire ~1,000 people in Taiwan in 2022 after hiring 1,400 in 2021.
• Leading chip material makers Merck KGaA MKKGY and Entegris Inc ENTG are building new production facilities in Taiwan and planning to hire more people locally in 2022. 
• Price Action: TSM shares traded lower by 0.09% at $124.42 in the premarket session on the last check Monday.