U.S. markets close in 4 minutes
  • S&P 500

    3,961.69
    -64.43 (-1.60%)
     
  • Dow 30

    33,832.14
    -514.89 (-1.50%)
     
  • Nasdaq

    11,046.33
    -180.03 (-1.60%)
     
  • Russell 2000

    1,828.34
    -40.85 (-2.19%)
     
  • Crude Oil

    76.94
    +0.66 (+0.87%)
     
  • Gold

    1,740.50
    -13.50 (-0.77%)
     
  • Silver

    20.90
    -0.53 (-2.47%)
     
  • EUR/USD

    1.0336
    -0.0069 (-0.66%)
     
  • 10-Yr Bond

    3.7030
    +0.0120 (+0.33%)
     
  • GBP/USD

    1.1945
    -0.0145 (-1.20%)
     
  • USD/JPY

    138.9090
    -0.1910 (-0.14%)
     
  • BTC-USD

    16,243.30
    -317.47 (-1.92%)
     
  • CMC Crypto 200

    380.97
    +0.68 (+0.18%)
     
  • FTSE 100

    7,474.02
    -12.65 (-0.17%)
     
  • Nikkei 225

    28,162.83
    -120.20 (-0.42%)
     

Apple Supplier TSMC Bags Tesla As New Client For EVF Chips

  • Taiwan Semiconductor Manufacturing Company Ltd (NYSE: TSM) would be Tesla, Inc (NASDAQ: TSLA) supplier of choice for its next-generation Full Self-Driving (FSD) computer, Teslarati reported.

  • The famous Apple Inc (NASDAQ: AAPL) supplier will supply Tesla chips under 4-nm and 5-nm processes.

  • Tesla could become one of TSMC's largest and most high-profile customers in 2023, marking Tesla's debut as TSMC's first customer in the large-scale EV manufacturing sector.

  • Tesla's next-generation computer, which TSMC will supply, would feature roughly three times the power of the company's current FSD computer.

  • Tesla aimed to commercialize its Cybertruck at the end of 2023, two years after the initial target for the long-awaited pickup truck CEO Elon Musk unveiled it in 2019.

  • In October, Tesla said it worked on readying its Austin, Texas plant to build the new model with "early production" in the middle of 2023.

  • Rising Taiwan-China and U.S.-China tensions have brought "more serious" challenges for the semiconductor industry, TSMC Chair said Mark Liu at the Taiwan Semiconductor Industry Association's annual convention.

  • While the chips sector is already bracing for sagging demand as red-hot inflation squeezes spending, Taiwan faces a stricter situation sandwiched between its largest export market China and its main international backer and arms supplier.

  • TSMC cut its annual investment budget by at least 10% for 2022 and struck a more cautious note than usual on upcoming demand.

  • Price Action: TSM shares traded lower by 2.26% at $80.40 on the last check Monday.

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.