The reason behind the decision came amid TSMC’s increasing nervousness over demand from its customers.
TSMC, which is currently dealing with delays at its chip factory in Arizona, is seeking to control its costs amid its growing caution over demand outlook, says Reuters.
The company did not provide a comment on what it called a “market rumour”.
TSMC announced, on the same day, that it seeks to accelerate its RE100 sustainability timetable by moving its target for 100% renewable energy consumption for all global operations to 2040 from 2050 previously. RE100 is a global initiative that brings the world’s most influential businesses together to commit to using 100% renewable energy.
See also: Intel cuts more than 500 jobs in Oregon as part of layoff plan
The company also raised its target for 100% company-wide renewable energy consumption to 60% from 40% by 2030.
In the month of August, TSMC reported net revenue of NT$188.69 billion ($8.06 billion), 6.2% higher m-o-m but 13.5% lower y-o-y.
Year-to-date, revenue from January to August totalled NT$1.36 trillion, 5.2% lower y-o-y.
See also: TSMC affiliate VIS may expedite production at US$8 bil Singapore fab
On July 20, TSMC cut its revenue projections for 2023 ahead of the delay to its marquee US project.
Analysts from DBS Group Research have been optimistic about the semiconductor sector, saying that the industry seems to be on a recovery path.
Read the full report here.
As at 4.18pm, shares in TSMC are trading NT$8 higher or 1.45% up at NT$558.
