TSMC, formally Taiwan Semiconductor Manufacturing Company, is headquartered in Hsinchu and is the world’s largest dedicated semiconductor foundry.
TSMC manufactures chips designed by other companies rather than primarily selling processors under its own consumer brand. This business model is called a dedicated semiconductor foundry, and it allows companies such as Apple, Nvidia, and AMD to outsource production.
Morris Chang founded TSMC in 1987 in Taiwan. The company helped establish the modern fabless semiconductor model, in which design firms focus on architecture and software while a specialized manufacturer operates advanced fabrication plants.
TSMC’s importance to market-cap rankings comes from its position in the global chip supply chain. Its advanced process technologies support smartphones, computers, data centers, and artificial-intelligence hardware. The company’s shares trade in Taiwan, while American depositary receipts trade in the United States.