TSMC, a leading semiconductor company by market capitalization, was founded by engineer Morris Chang.
Chang established Taiwan Semiconductor Manufacturing Company in 1987 with support from the government of Taiwan and Philips. The company pioneered the dedicated semiconductor foundry model, manufacturing chips designed by other companies rather than primarily selling chips under its own brand.
That model allowed customers such as fabless chip designers to obtain advanced manufacturing without building their own fabrication plants. TSMC became a crucial supplier for processors, graphics chips, smartphone components, and artificial-intelligence hardware.
TSMC stands for Taiwan Semiconductor Manufacturing Company. It is headquartered in Hsinchu, Taiwan, and is frequently confused with Foxconn, which is a major electronics manufacturer but operates under a different business model and was founded by Terry Gou.