Taiwan semiconductor (New York Stock Exchange: TSM) played down a report that said it was considering building a chip manufacturing plant in Singapore, noting that it had no specific plans at this time, Digitimes reported.
However, Taiwan Semi (TSM) added that it does not exclude the possibility of building a factory in Singapore.
Taiwan Semi Shares (TSM) rose nearly 2.5% to $92.37 in premarket trading on Friday.
On Thursday, it was reported that Taiwan Semiconductor (TSM) is planning to build a factory in Singapore, likely focused on manufacturing chips between seven and 28 nanometers, which are older generation chips and used in cars, smartphones and other electronic devices.
Taiwan Semiconductor (TSM), which makes chips for customers including Apple (AAPL), Advanced Micro Devices (AMD) and Nvidia (NVDA), has previously said it will spend up to $44 billion this year on capital expenditure to help address the chip shortage that has crippled supply chains across the world.
Taiwan Semiconductor (TSM) has been scrambling to expand its global footprint with factories all over the world, including one in Arizona that is behind schedule.
The company also recently started building a factory in Japan.
Last week, it was reported that Taiwan Semiconductor Manufacturing (TSM) had started notifying some of its customers that it would raise prices between 5% and 9%, starting next year.