TSMC became Asia’s most valuable listed company by market capitalization during the AI boom.
Taiwan Semiconductor Manufacturing Company, usually called TSMC, rose to the top of Asian listed-company rankings as demand for advanced chips used in artificial-intelligence systems surged. Its market value reflects investor expectations about future earnings, not just the replacement cost of its factories.
TSMC is the world’s largest dedicated semiconductor foundry. It manufactures chips designed by other companies, including many high-performance processors, while generally not selling chips under its own consumer brand. This pure-play foundry model is distinct from integrated chip companies that both design and manufacture products.
The company was founded in 1987 in Hsinchu, Taiwan, by Morris Chang. TSMC’s importance to the global technology supply chain makes its market capitalization sensitive to smartphone demand, AI investment, export controls, and concerns about geopolitical risk in the Taiwan Strait.