Taiwan Semiconductor Manufacturing Company, the world’s biggest agreement chipmaker, reported Thursday that it hopes to pour $100 billion into advanced chips over the course of the following three years to stay aware of rising demand.

The investment is a monstrous increment more than the $25 billion to $28 billion that TSMC (TSM) intended to spend to make advanced chips this year.

“In order to keep up with demand,” TSMC hopes to utilize the funds to “increase capacity to support the manufacturing and [research and development] of advanced semiconductor technologies,” the organization said in a statement shipped off CNN Business.

The organization has said already that industry “megatrends,” like 5G and high performance computing, will fuel strong demand for semiconductor technology over the next several years. Furthermore, it added Thursday that the Covid-19 pandemic “accelerates the digitalization in every aspect.”

Shares of TSMC climbed over 2% in Taipei on Thursday.

Global chipmaking goliaths are racing to extend chip fabrication capacity to fulfill solid demand as a worldwide chip deficiency has hampered industries going from automobiles to video games. A week ago, Intel (INTC) revealed a plan to invest $20 billion of every two new US chipmaking facilities.

Intel’s move was pointed toward reasserting its position as the undisputed leader of the semiconductor industry. Postponements in creating next-generation chips have permitted contenders TSMC and Samsung (SSNLF) to run ahead.

In January, TSMC said it would spend $25 billion to $28 billion this year, contrasted and $17 billion in 2020. It added that about 80% of that would be used for advanced processing technologies.

The organization is entering “another period of higher growth,” said Wendell Huang, TSMC’s VP and CFO, during a January earnings presentation.