TSMC expects capital expenditures of US$28 billion to US$32 billion in 2024

TSMC expects capital expenditures of US$28 billion to US$32 billion in 2024, of which 70%-80% will be used for advanced technologies. Net profit in the fourth quarter of 2023 was NT$238.7 billion, a year-on-year decrease of 19.3% and a month-on-month increase of 13.1%. Sales in the first quarter of 2024 are expected to be US$18 billion to US$18.8 billion. The research and development of 2nm process technology is progressing smoothly, and mass production is planned to begin in 2025.