Taiwan Semi and Murata Join Apple in $280M Green Initiative – Apple (NASDAQ:AAPL), Goldman Sachs Gr (NYSE:GS) – Benzinga
Apple Inc’s AAPL suppliers, Taiwan Semiconductor Manufacturing Co TSM and Murata Manufacturing Co MRAAF, are contributing to the iPhone maker’s green investment initiative, increasing the total committed capital to $280 million.
TSMC has pledged to invest up to $50 million, and Murata will contribute up to $30 million.
Apple has allocated up to $200 million to this fund, managed by Climate Asset Management, a collaboration between HSBC Asset Management and the environmentally focused group Pollination.
This initiative, the Restore Fund, aims to support carbon removal efforts through nature-based solutions while protecting critical ecosystems, Bloomberg reports.
In its initial phase in 2021, Apple, alongside Goldman Sachs Group Inc GS and Conservation International, has focused on promoting sustainable forests in South America.
TSMC, a crucial chip provider for Apple, and Murata, a supplier of iPhone components, are joining Apple in this environmental endeavor.
Meanwhile, Apple is pushing forward with its chip technology by developing processors that will use the innovative 2-nanometer (nm) fabrication process from TSMC, as disclosed in a slide from an Apple employee.
This move is part of Apple’s ongoing strategy to integrate the latest chip technologies, which has seen the company move from 5nm to 3nm chips in recent years, significantly boosting performance across its products.
TSMC gained 58% in stock value last year versus Apple at 14%.
Despite a downturn in the broader consumer electronics market, TSMC and other top Taiwanese chipmakers enjoyed a strong February, driven by the high demand for artificial intelligence (AI)–related products. This situation underscored the mixed performance within Taiwan’s tech industry for the month.
The total sales of Taiwan’s key tech producers fell 5.9% year-on-year in February, continuing a trend of negative growth for the third consecutive month. Nevertheless, an increase in AI-related sales helped soften the impact of January’s 8.3% sales decrease.
Price Action: TSM shares are trading lower by 1.86% to $139.50 on the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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