Arthur Lai's questions to Taiwan Semiconductor Manufacturing Co Ltd (TSM) leadership • Q2 2025
Question
Arthur Lai inquired about the return on investment for the N2 node, asking for a comparison to the N3 node, especially considering N2's higher capital expenditure but reportedly good yield performance.
Answer
SVP & CFO Mr. Wendell Huang stated that N2's profitability is structurally better than N3's. He explained that comparing the time to reach corporate average margin is less meaningful now that the target is 53%+, but confirmed N2 is on track for a ramp in H2 2025 with revenue contribution starting in H1 2026.