TSMC holds its capex plan at up to $64 billion as AI demand outruns supply

Taiwan Semiconductor Manufacturing Company is keeping its foot on the gas. On its third-quarter earnings call on October 15, 2026, TSMC reaffirmed that it plans to spend between $60 billion and $64 billion on capital expenditures this year. The spending plan came alongside an upgraded growth outlook. TSMC now expects revenue to grow by approximately 44% in US dollar terms this year, up from a previous forecast of slightly more than 40%. The numbers behind the confidence The quarter TSMC just reported gives the forecast some backing. Net profit for the third quarter of 2026 rose 69% compared with the same period a year earlier. Looking ahead, the company guided fourth-quarter revenue to a range of $52.3 billion to $54.3 billion. The driver is no mystery. TSMC pointed to artificial intelligence as the major force behind demand, and the company characterized that demand as exceeding supply across the semiconductor market. A construction project spanning continents TSMC currently has nearly 20 semiconductor facilities under development around the world. Thirteen of those are in Taiwan, with another 5 to 6 located overseas. The spending is not expected to slow after this year, either. C...