TSMC is the world's largest dedicated independent semiconductor foundry, manufacturing chips designed by other companies.
Taiwan Semiconductor Manufacturing Company was founded in 1987 by Morris Chang in Hsinchu, Taiwan. Its foundry model separated chip design from manufacturing and helped create a specialized global semiconductor industry.
TSMC makes processors and other chips for customers across smartphones, computers, communications, automotive systems, and artificial-intelligence hardware. It manufactures products for companies that generally do not operate their own leading-edge fabrication plants.
“Contract chip manufacturer” can be confused with an integrated device manufacturer, which designs and makes its own chips. TSMC’s market capitalization reflects its publicly traded shares and changes with the Taiwan and global technology markets.