Warren Buffett's Company Sells Major Stake in Taiwanese Chip Giant TSMC

2/24/23, 1:47 PM Warren Buffett's company sells major stake in Taiwanese chip giant TSMC | CNN Business
AudioLive TV
Markets Fear & Greed Index Latest Market News

‘It’s a major blow’: Dominion has uncovered
DOW 33,153.91 0.33% ‘smoking gun’ evidence in case against Fox
S&P 500 4,012.32 0.53% News, legal experts say
63
NASDAQ 11,590.40 0.72% Washington Post: Bezos hires investment firm

to explore possibility of NFL team bid
Biden nominates former MasterCard exec

Ajay Banga to lead World Bank
Warren Buffett’s company sells major stake in Taiwanese chip giant TSMC
By Eric Cheung and Juliana Liu, CNN
Updated 4:01 AM EST, Wed February 15, 2023
Nati Harnik/AP/File
Warren Buffett, chairman and CEO of Berkshire Hathaway, speaks during a game of bridge following the annual Berkshire Hathaway shareholders meeting in Omaha on
May 5, 2019.
Taipei/Hong Kong (CNN) — Shares in Taiwan Semiconductor Manufacturing Company fell as much as 4% on Wednesday,
after Warren Buffett’s Berkshire Hathaway disclosed that it had sold most of its holdings in the chip giant.
In a Tuesday filing with the United States’ Securities and Exchange Commission, Berkshire Hathaway (BRKA) said it had
about 8.3 million American depository shares of TSMC worth $618 million, having sold 86% of its shares. Just months
before, in November, the company held about 60 million American depository shares of TSMC worth $4.1 billion,
according to an SEC filing.
Berkshire Hathaway did not provide a reason for the sale and did not immediately respond to a CNN request for
comment. TSMC had no comment on the share sale.
RELATED ARTICLE
As the world courts TSMC Taiwan worries about losing its 'silicon shield'
https://edition.cnn.com/2023/02/15/tech/warren-buffett-tsmc-chips-earnings-hnk-intl/index.html 1/9
As the world courts TSMC, Taiwan worries about losing its silicon shield
Shares in TSMC, which accounts for an estimated 90% of the world’s super-advanced computer chips, ended
Wednesday more than 3% lower.
Last month, the chipmaker posted strong quarterly and annual earnings, but gave a muted forecast on prospects for
2023 given the global slump in electronics demand because of rising inflation.
Due to TSMC’s record earnings in 2022, its board approved on Tuesday the distribution of $121 billion New Taiwan
Dollars ($4 billion) in performance-related bonuses and profit sharing to employees based in Taiwan.
With nearly 65,000 employees on the island as of the end of last year, that would work out as an average of $62,000 per
employee – if distributed equally.
Global expansion
The board also approved a plan to inject up to $3.5 billion into the company’s subsidiary in Arizona, which will be part of
a previously announced investment of $40 billion in the United States. TSMC announced last year that it’s building a
second semiconductor factory in Phoenix and increasing its investment there.
RELATED ARTICLE
World's top chip maker mulls global expansion with plants in Europe, Japan
The world’s most important chipmaker, highly sought after by governments globally, is considering opening its first plant
in Europe and a second one in Japan. TSMC’s global expansion comes as political tension has heightened between
Washington and Beijing.
Earlier this month, US Secretary of State Antony Blinken postponed a planned trip to China in response to the flying of a
suspected Chinese spy balloon over the United States.
In October, President Joe Biden’s administration imposed sweeping new curbs designed to curtail China’s access to
technology critical to its growing military power.
Last month, a Dutch maker of semiconductor equipment, ASML, told CNN that “rules are being finalized” on export
controls to China, amid reports that the Netherlands and Japan have joined the United States in restricting sales of
some computer chip machinery to the country.
A few days later, multiple media outlets reported that Washington was moving to further restrict sales of American
technology to Chinese tech giant Huawei.
– CNN’s Chris Isidore and Michelle Toh contributed to this report
MORE FROM CNN BUSINESS
Inflation was still hot in January, but some prices are cooling off
Household debt hit record $16.9 trillion last quarter, as consumers loaded up their
credit cards
CNN BUSINESS VIDEOS
Electric vehicles are getting bigger. Here’s why that’s an issue
VIDEO
How is Musk doing at Twitter? Why are EVs getting bigger? And why so many
meetings?!
VIDEO
Journalist says he had a creepy encounter with new tech that left him unable to sleep
VIDEO
Journalist says he had a creepy encounter with new tech that left him unable to sleep
VIDEO
Search CNN...
Log In
Live TV
Audio
World
US Politics
Business
Health
Entertainment
Tech
Style
Travel
Sports
Videos
Features
Weather
More
FOLLOW CNN BUSINESS
Most stock quote data provided by BATS. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. All times are ET.
Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its
licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of
S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s
Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P
Dow Jones Indices LLC and/or its affiliates. Fair value provided by IndexArb.com. Market holidays and trading hours provided by Copp Clark Limited.
Terms of Use Privacy Policy Cookie Settings Ad Choices Accessibility & CC About Newsletters Transcripts
© 2023 Cable News Network. A Warner Bros. Discovery Company. All Rights Reserved.
CNN Sans ™ & © 2016 Cable News Network.

Warren Buffett's Company Sells Major Stake in Taiwanese Chip Giant TSMC

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Warren Buffett's Company Sells Major Stake in Taiwanese Chip Giant TSMC

Uploaded by

Copyright:

Available Formats

2/24/23, 1:47 PM Warren Buffett's company sells major stake in Taiwanese chip giant TSMC | CNN Business

Markets Fear & Greed Index Latest Market News

NASDAQ 11,590.40 0.72% Washington Post: Bezos hires investment firm

Biden nominates former MasterCard exec

– CNN’s Chris Isidore and Michelle Toh contributed to this report

MORE FROM CNN BUSINESS

CNN BUSINESS VIDEOS

Electric vehicles are getting bigger. Here’s why that’s an issue

FOLLOW CNN BUSINESS

You might also like