Taiwan Semiconductor Manufacturing Company, a major high-value semiconductor company, was founded in 1987.
TSMC was established in Taiwan by Morris Chang, who had previously held senior positions at Texas Instruments. Its business model was distinctive: rather than designing and selling its own branded chips, it manufactured semiconductors designed by other companies.
That dedicated-foundry model helped companies such as fabless chip designers avoid the enormous cost of building and operating their own fabrication plants. TSMC eventually became a crucial supplier for advanced processors used in smartphones, computers, data centers, and artificial-intelligence systems.
TSMC is sometimes confused with a chip-design company because its customers’ products are highly visible. The company’s central role is manufacturing, although it also provides technologies and services that support chip production. Its shares are traded in Taiwan, with American depositary receipts listed in New York.