TSMC is the world's largest semiconductor foundry, manufacturing chips for other designers.
Taiwan Semiconductor Manufacturing Company operates as a dedicated contract manufacturer: customers design chips, while TSMC produces them in specialized fabrication plants. This model is known as the foundry business. It lets companies such as fabless chip designers avoid the enormous cost of building and operating their own leading-edge factories.
TSMC was founded in Taiwan in 1987 by Morris Chang. The company helped establish the modern pure-play foundry model and became a critical supplier for advanced processors used in smartphones, servers, graphics hardware, and artificial-intelligence systems.
TSMC is listed on the Taiwan Stock Exchange and through American depositary receipts in the United States. Its market capitalization has placed it among the world's most valuable companies, especially during periods of strong demand for advanced chips. It is distinct from Samsung Electronics and Intel, which both design chips and operate their own manufacturing businesses.