Topic

TSM

A collection of 6 issues

TSMC 3Q’26: Easing Off the Brake

Last year, Ben Thompson described TSMC as the brake on the AI buildout: “If Altman and OpenAI are the ones pushing to accelerate the AI infrastructure buildout, it’s Wei and TSMC that are the brakes.” TSMC has been easing off that brake all year.

TSMC 2Q'26: Stratospheric Margins Amidst the AI Super Cycle

Programming Note: MBI Deep Dives will be off for the next three days. The regular cadence of daily posts will resume on Tuesday next week.

TSMC 1Q'26 Update

Yesterday’s TSMC earnings call was yet another confirmation that the AI momentum right now is one-way street: up and to the right! TSMC’s CEO C.C.

TSMC's Green Signal

A Programming Note: I will take a personal day tomorrow, so there won’t be any new post tomorrow. TSMC’s 4Q’25 call was quite reassuring for AI bulls.

TSMC's Margins

It is kind of incredible to see TSMC’s margin trajectory over the last five years. Their current operating margin is now basically same as their gross margins pre-pandemic.

TSMC: The Most Mission-Critical Company on Earth

You can listen to this Deep Dive here On my Semiconductor Primer, I mentioned the following quote from the book “Chip War” to substantiate the pervasiveness of chips in modern world: “Last year, the chip industry produced more transistors than the combined quantity of all goods produced by all