The revered head of Taiwan's semiconductor giant said cryptocurrencies would be a key driver for growth despite a bitcoin slump due to the threat of stricter regulations.
Morris Chang's Taiwan Semiconductor Manufacturing Co (TSMC) produces chips that power Apple's iPhones and, more recently, that enable new businesses like artificial intelligence and digital currency mining.
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Taiwan Semiconductor Manufacturing Company has signed a deal to build a $3 billion plant in China, the island's largest outbound investment on the mainland.
The firm, which counts Apple as a client and in revenue terms is the world's top microchip maker providing tailor-made services, will set up the factory in Nanjing, the company said in a statement Monday.
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