Taiwan's TSMC is pouring $100 billion into chipmaking over the next three years

Taiwan Semiconductor Manufacturing Company, the world's largest contract chipmaker, announced Thursday that it expects to pour $100 billion into advanced chips over the next three years to keep up with rising demand.

The investment is a massive increase over the $25 billion to $28 billion that TSMC (TSM) planned to spend to make advanced chips this year. "In order to keep up with demand," TSMC expects to use the funds to "increase capacity to support the manufacturing and [research and development] of advanced semiconductor technologies," the company said in a statement sent to CNN Business.