Buffett Takes $5 Billion Stake in TSMC, Sparking Surge in Shares

The 92-year-old Warren Buffett has long shied away from the tech industry, but that stance changed in recent years. Photo: Bloomberg

(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc. took a stake of about $5 billion in Taiwan Semiconductor Manufacturing Co. Ltd., a sign the legendary investor thinks the world’s leading chipmaker has bottomed out after a selloff of more than $250 billion. Shares surged.

The Omaha-based conglomerate acquired about 60 million American depository receipts in TSMC in the three months ended September, it said in a filing. The Taiwanese company produces semiconductors for clients like Nvidia Corp. and Qualcomm Inc. and is the exclusive supplier of Apple Inc.’s custom Silicon chips. Apple remains the most valuable single holding in Berkshire’s portfolio.