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TSMC approved about US$44.962 billion in capital appropriations in February 2026 for capacity and fab-related projects. That is not, by itself, a year-over-year capex increase: a separate November 2025 board resolution approved about US$14.9816 billion for specified 2026 programs, and the two resolutions have different scopes. TSMC’s filings document VentureTech investment entities, but do not establish the launch terms of a new 2026 venture fund.

How much did TSMC approve for capex?

TSMC’s board approved two separate sets of capital appropriations in resolutions dated November 11, 2025, and February 10, 2026. They cover overlapping but not identical programs, so they should not be added together or treated as a direct year-over-year comparison.

Board resolution Amount approved Stated scope
November 11, 2025 Approximately US$14.9816 billion 2026 fab construction, advanced technology and packaging, R&D, sustaining capital expenditure, and capitalized leased assets
February 10, 2026 Approximately US$44.962 billion Advanced technology capacity, advanced packaging, mature or specialty capacity, and fab construction

These are board-approved appropriations for the named programs—not confirmation that the full amounts have already been spent. The resolutions also do not supply a like-for-like annual capex comparison. To calculate an increase, compare figures that use the same period and scope, such as company-wide annual capex against company-wide annual capex, rather than contrasting one set of program appropriations with another.

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Did TSMC really set up a new venture fund?

The available filing evidence does not establish the size, mandate, launch date, or outside-investor participation of a newly established 2026 fund. TSMC’s 2024 annual-report related-company disclosure instead documents a history of investment entities: VentureTech Alliance Fund II, L.P.; VentureTech Alliance Fund III, L.P.; Growth Fund Limited; and Emerging Fund, L.P.

The same disclosure says VentureTech Alliance Funds II and III were dissolved in 2025, while Growth Fund Limited was under dissolution procedures. Those status details matter: the existence of venture entities in a company disclosure is not proof that a newly announced fund is active, or that those older vehicles remain open for investment.

Does this mean TSMC is investing directly in AI startups?

Not on the evidence described in these filings. They document investment entities, but do not specify whether a new 2026 fund exists, which companies it would back, or whether TSMC would invest directly in AI startups. The capex resolutions concern manufacturing capacity and related programs; they are not evidence of startup investments.

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What is TSMC building in the United States?

On March 4, 2025, TSMC announced an additional US$100 billion in intended U.S. investment, bringing its planned U.S. investment total to US$165 billion. The announced plan covered three additional fabrication plants, two advanced-packaging facilities, and an R&D center. TSMC described the announcement as “TSMC Intends to Expand Its Investment in the United States to US$165 Billion to Power the Future of AI.”

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This is a planned investment figure and project list, not a statement that all of the facilities are already built or that the full amount has been deployed. The announcement connects the expansion with AI demand, while the February 2026 appropriations separately identify advanced technology, packaging, mature or specialty capacity, and fab construction.

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