Taiwan Semiconductor Manufacturing Company Limited (Chinese: 台灣積體電路製造股份有限公司; Taiwan Semiconductor or TSMC, stylised in all lowercase) is a Taiwanese multinational semiconductor contract manufacturing and design company. Headquartered in Hsinchu Science Park, it is one of the world's largest non-US companies by market capitalisation. It holds a commanding majority in the semiconductor foundry market, accounting for approximately 70% of the global market share. As the leading dedicated contract chipmaker, it serves as the main supplier for Nvidia, Apple, Broadcom, and Qualcomm. The company has grown rapidly due to the artificial intelligence boom and its importance in the creation of advanced chips needed for AI. Its role as a supply chain bottleneck raises concerns that a disruption could cause another worldwide chip shortage. Although the government of the Republic of China is the largest individual shareholder, the majority of TSMC is owned by foreign investors. In 2025, the company was ranked 38th in the Forbes Global 2000. Taiwan's exports of integrated circuits amounted to $184 billion in 2022, nearly 25 percent of Taiwan's GDP. TSMC constitutes about 30 percent of the Taiwan Stock Exchange's main index. TSMC was established in 1987 as a joint venture between Taiwan’s government, the Industrial Technology Research Institute (ITRI), and private investors. Morris Chang founded the company to commercialise semiconductor research originally developed at ITRI, becoming the world’s first dedicated semiconductor foundry. When Chang retired in 2018, after 31 years of TSMC leadership, Mark Liu became chairman and C. C. Wei became Chief Executive. It has been listed on the Taiwan Stock Exchange since 1993; in 1997 it became the first Taiwanese company to be listed on the New York Stock Exchange. Since 1994, TSMC has had a compound annual growth rate (CAGR) of 17.4 percent in revenue and a CAGR of 16.1 percent in earnings. Most fabless semiconductor companies such as AMD, Apple, ARM, Broadcom, Marvell, MediaTek, Qualcomm, and Nvidia are customers of TSMC, as are emerging companies such as Allwinner Technology, HiSilicon, Spectra7, and UNISOC. Programmable logic device companies Xilinx and previously Altera also make or made use of TSMC's foundry services. Some integrated device manufacturers that have their own fabrication facilities, such as Intel, NXP, STMicroelectronics, and Texas Instruments, outsource some of their production to TSMC. TSMC has a global capacity of about thirteen million 300 mm-equivalent wafers per year as of 2020 and produces chips for customers with process nodes from 2 microns to 3 nanometres. TSMC was the first foundry to market 7-nanometre and 5-nanometre (used by the 2020 Apple A14 and M1 SoCs, the MediaTek Dimensity 8100, and AMD Ryzen 7000 series processors) production capabilities, and the first to commercialise ASML's extreme ultraviolet (EUV) lithography technology in high volume.
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