American business magnate Warren Buffett’s Berkshire Hathaway has revealed a $4.1bn (£3.4bn) stake in the world’s largest chipmaker, in a rare big bet on tech.
Shares in Taiwan Semiconductor Manufacturing Company (TSMC) rose 7.8 per cent to $480 (£405) a share by the time Taipei’s market closed, on the back of Buffett weight in investment circles.
The 92-year-old billionaire has long refrained from diving into the tech pool, despite the attractive promises pouring out of Silicon Valley over the past decade.
Buffett’s investment giant Berkshire Hathaway has kept its tech investments largely limited to IBM and iPhone maker Apple, which the billionaire reportedly considers more of a consumer goods company.
TSMC, which supplies the likes of Apple, Nvidia and Qualcomm with computer chips, has proved itself to be a behemoth in the industry, which has hit headlines in recent years over a sustained shortage of semiconductors.
Semiconductors, also referred to as computer or micro chips, have been short supply since the height of pandemic restrictions, which gave way to a tsunami of demand for consumer electronics – in which chips are critical.
For all the latest Technology News Click Here
For the latest news and updates, follow us on Google News.
