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TSMC’s new chairman affirms forecast of AI-fuelled global semiconductor market recovery in 2024

  • C C Wei on Tuesday became the first person at TSMC to hold the dual roles of chairman and chief executive in years
  • He stuck with previous projections for 10 per cent growth in the global semiconductor market this year, excluding the vast memory chip sector

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TSMC chairman and chief executive C C Wei said the company will always begin adopting the most advanced technology in Taiwan, before employing it elsewhere. Photo: CNA
Bloomberg
The chairman and chief executive of Taiwan Semiconductor Manufacturing Co (TSMC), C C Wei, has reaffirmed expectations for artificial intelligence (AI) development to drive this year’s industry recovery.
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Wei on Tuesday was formally appointed TSMC’s new chairman, becoming the first person in the company to hold the dual role of chief executive in years.

He stuck with previous projections for 10 per cent growth in the global semiconductor industry this year, excluding the vast memory chip sector. But that was a scaled-back outlook from April, when executives warned about weak smartphone and personal-computing markets.
Wei’s ascension signifies a changing of the guard at a company founded by Morris Chang and today sits at the heart of the global AI boom.
People visit Taiwan Semiconductor Manufacturing Co’s Museum of Innovation in Hsinchu, a city in northwestern Taiwan, on May 29, 2024. Photo: Reuters
People visit Taiwan Semiconductor Manufacturing Co’s Museum of Innovation in Hsinchu, a city in northwestern Taiwan, on May 29, 2024. Photo: Reuters
TSMC remains the single most important chip maker to Apple as well as Nvidia Corp and SK Hynix, whose components are considered critical to the training and hosting of AI services.
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