Taiwan Semiconductor Manufacturing Company (NYSE: TSM), the world’s largest contract chipmaker, defied Wall Street expectations with a flat fourth-quarter revenue report. At first glance, this may seem underwhelming. However, a closer look reveals a more complicated strategy at play. This new strategy masks a strategic pivot towards a booming future fueled by Artificial Intelligence (AI).
From humble foundry to industry titan
TSMC is a foundry, a silicon subcontractor, that creates the miniature brains that power our digital world. Unlike traditional chipmakers that design and manufacture their chips, TSMC only fabricates chips, carefully constructing these complex circuits based on designs provided by technology leaders like Apple (NASDAQ: AAPL), Nvidia (NASDAQ: NVDA), and
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