Charlie Chan's questions to TAIWAN SEMICONDUCTOR MANUFACTURING CO (TSM) leadership • Q3 2025
Question
Charlie Chan asked TSMC to reconcile its strong leading-edge demand and continuous migration to advanced nodes with a major customer's statement about 'more so is that,' implying a focus on system-level innovation beyond just chip technology. He followed up on previous concerns about China's AI GPU demand, asking if the recent U.S.-China back-and-forth and potential restrictions on NVIDIA GPUs would impact TSMC's long-term AI CAGR growth or its ability to seize market opportunities in China.
Answer
CEO Che-Chia Wei clarified that the customer's 'more so is that' comment emphasizes overall system performance, not just chip technology. He stated that TSMC works closely with customers on both front-end and back-end technologies, including packaging, to meet these comprehensive system requirements. He also expressed confidence in TSMC's GPU and ASIC customers' performance, stating that even if the China market has limited availability, the AI growth will remain dramatic and positive, and TSMC's customers will continue to grow, supported by TSMC. He confirmed that the 40% CAGR or higher is achievable despite limited China opportunities.