TSMC's Wei Zhejia: We Bought High-NA EUV, But Mass Production Delayed Due to High Cost

TSMC held its annual shareholders' meeting in Hsinchu on June 4. A shareholder asked whether TSMC's decision not to purchase high-end High-NA EUV (High Numerical Aperture Extreme Ultraviolet) lithography equipment, despite investing in advanced processes, indicated overconfidence in its own technology and a risk of repeating Intel's mistakes. In response, TSMC Chairman and CEO C.C. Wei clarified that the company has purchased High-NA EUV equipment. However, due to the high cost, it is currently not being introduced into the production line. Wei emphasized, "TSMC has bought High-NA EUV and is actively conducting R&D. It is not being used for production because the cost is somewhat high. Once we can reduce the cost and leverage the benefits of High-NA EUV, we will bring it into production." Regarding the peak of TSMC's capital expenditure, Wei stated that it is a difficult question to answer, adding, "If I knew when the peak would be, I could make better decisions and investments." He expressed strong confidence in TSMC's growth over the next few years based on forecasts from its customers and their customers. The company's original capital expenditure plan for this year was US$52 billion to US$56 billion, but it is now leaning towards US$56 billion. Wei admitted he does not know when the capital expenditure peak will occur. He encouraged shareholders to continue buying TSMC stock, noting that the stock price rose from NT$950 last year to NT$2,450 this year. He affirmed that the company and its employees will strive to maintain this growth trend and that he currently sees no indicators to stop investing.