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Artificial intelligence is expected to pay off big for tech giants including Microsoft and Alphabet someday. But expect deeper investments before gains trickle to the bottom line, the companies said on Tuesday. Microsoft said costs rose sharply as it built new data centers to support AI and that capital expenditures will continue to rise as it buys chips from the likes of Nvidia Corp to power those data centers, Reuters said. The Windows maker's shares were down more than 4% in premarket trading on Wednesday, while Alphabet gained nearly 7%.

TAIPEI (Reuters) -Driven by a surge in demand for artificial intelligence, Taiwanese chip maker TSMC plans to invest nearly T$90 billion ($2.87 billion) in an advanced packaging facility in northern Taiwan, the company said on Tuesday. "To meet market needs, TSMC is planning to establish an advanced packaging fab in the Tongluo Science Park," the company said in a statement. CEO C.C. Wei said last week that TSMC is unable to fulfil customer demand driven by the AI boom and plans to roughly double its capacity for advanced packaging - which involves placing multiple chips into a sin...

Taiwanese chip maker TSMC (2330.TW) plans to invest nearly T$90 billion ($2.87 billion) to build an advanced chip testing and packaging facility in Taiwan's…

Driven by a surge in demand for artificial intelligence, Taiwanese chip maker TSMC plans to invest nearly T$90 billion in an advanced packaging facility in northern Taiwan, the company said on...

"To meet market needs, TSMC is planning to establish an advanced packaging fab in the Tongluo Science Park," the company said in a statement.