Taiwan Semiconductor (NYSE:TSM) downplayed a report that said it was looking at building a chip manufacturing plant in Singapore, noting it did not have any specific plans at the moment, Digitimes reported.
However, Taiwan Semi (TSM) added that it did not rule out the possibility of building a plant in Singapore.
Taiwan Semi (TSM) shares rose nearly 2.5% to $92.37 in premarket trading on Friday.
On Thursday, it was reported that Taiwan Semiconductor (TSM) was looking at building a plant in Singapore, likely focused on making chips between seven and 28 nanometers, which are older generation chips and used in cars, smartphones and other electronics.
Taiwan Semiconductor (TSM), which makes chips for clients such as Apple (AAPL), Advanced Micro Devices (AMD) and Nvidia (NVDA), has previously said it would spend as much as $44 billion this year in capital expenditures to help deal with the chip shortage that has crimped supply chains across the world.
Taiwan Semiconductor (TSM) has worked to expand its global footprint with factories all over the world, including one in Arizona that is behind schedule.
The company also recently started construction on a plant in Japan.
Last week, it was reported that Taiwan Semiconductor Manufacturing (TSM) has started to inform some of its customers that it will raise its prices between 5% and 9%, starting next year.