Taiwan’s TSMC recently announced that the company will build a new R&D center in Hsinchu to make it Taiwan’s first Bell Lab while recruiting 8,000 new R&D personnel for the development of 3nm process nodes and beyond in next 20 to 30 years, the Economic Daily News reported on November 1. Located at Hsinchu, this new R&D center will start construction at the beginning of 2020 and complete construction by the end of the same year. In the past five years, TSMC has invested about US$50 billion into advanced process nodes over the past five years. Last year, the company allocated NT$85.9 billion for R&D which accounted for 8% of its total revenue in 2018. This year the R&D budget is anticipated to increase to 8.6%.