TSMC, formally Taiwan Semiconductor Manufacturing Company, was founded in 1987 by Morris Chang.
The company pioneered the dedicated semiconductor foundry model. Instead of primarily selling chips under its own consumer brand, TSMC manufactures designs created by other companies. This division lets chip designers concentrate on architecture while TSMC invests in advanced production facilities and processes.
TSMC became especially important as leading technology companies outsourced production of high-performance processors. Its customers have included major chip designers such as Apple and Nvidia, making the company a key participant in the global technology supply chain and a frequent member of the world's largest companies by market value.
TSMC is headquartered in Hsinchu, Taiwan. It is not the same business as a fabless designer such as Nvidia, nor is it the same as an integrated manufacturer such as Intel, whose business historically combined chip design and fabrication.