Valued at $420 billion, TSMC is the most valuable semiconductor company in the world and Taiwan’s most valuable company by far.

TSMC alone has over 50% of global market share in contract chip making. Read the new Bismarck Brief (@bismarckanlys): brief.bismarckanalysis.com/p/tsmcs-central-role-in-the-global

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TSMC’s core advantage is rapidly manufacturing the most advanced computer chips, at scale, in a factory setting, with low rates of defects.

The company does not design any chips. It just designs the manufacturing processes to make other people’s designs.

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The key live player behind TSMC is now 91-year-old Morris Chang, who retired from the company in 2018.

Chang brought a key tradition of knowledge in semiconductor fabrication from the U.S. Texas Instruments to Taiwan in the 1980s.

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TSMC’s revenues are skyrocketing still and the company is gaining new allies in the U.S.

Ironically, the biggest threat to TSMC will most likely be its own executives and employees transferring unique knowledge outside the company. Including, perhaps, to China.

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