Taiwan’s semiconductor firm Powertech Technology plans to invest $400 million to establish a chip packaging joint venture in Singapore, in a cooperation with US semiconductor giant Broadcom.

The Taiwanese firm made the statement in a filing submitted to the Taiwan Stock Exchange on late last week. The $400 million investment is conducted by Powertech Technology, while detail of Broadcom’s commitment is not given.

Powertech Technology said investments will be made in accordance with the construction progress of the Singapore facility and its funding requirements, using internal funds. The joint venture can strengthen its global business footprint and align more closely with the supply chains of its global customers, Powertech Technology said.

The deal remains subject to approval from relevant regulatory authorities, the execution of definitive transaction documents, and the satisfaction of applicable conditions precedent.

Powertech Technology is a Taiwan-listed provider of memory and logic chip packaging and testing services, traded on the Taiwan Stock Exchange under the symbol 6239. Broadcom Inc. is a US fabless semiconductor company listed on Nasdaq under the symbol AVGO.

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