TSM Confirms Power Restoration At Tainan Science Park Following Outage: Reuters

Taiwan Semiconductor Manufacturing Co Ltd TSM confirmed the power restoration following an outage at a south Taiwan manufacturing site in the Tainan science park, Reuters reports.
The event assumes immense significance at a point when the world is battling an acute semiconductor chip crisis. Apple Inc AAPL and Qualcomm Inc QCOM feature amongst TSM’s clientele.
The outage was caused by the accidental severance of an underground power line during construction work in the late morning, Alice Cheng, Deputy head of the park, said. Cheng confirmed the supply restoration to the factories by 7 p.m. (1100 GMT).
The facility suffered a power outage from a power line abnormality at the high voltage substation South Taiwan Science Park, confirmed TSM. TSM assured the blackout did not entail any employee evacuation. The power was restored on the same day, and TSM was presently gauging the impact.
TSM will report its first-quarter earnings on Thursday.
Price action: TSM shares traded higher by 0.68% at $122.09 on the last check Wednesday.