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Taiwan Semiconductor Manufacturing Company Limited (TSMC) is the world's largest dedicated semiconductor foundry, specializing in manufacturing semiconductors based on proprietary designs provided by its customers. The company focuses on wafer fabrication, advanced packaging, and testing services, as well as design and mask-making solutions. TSMC serves a diverse range of industries, including high-performance computing, smartphones, IoT, automotive, and digital consumer electronics.
- High Performance Computing - Manufactures semiconductors for applications such as data centers, AI, and advanced computing systems.
- Smartphone - Produces chips used in mobile devices, enabling enhanced performance and connectivity.
- Internet of Things - Develops semiconductors for IoT devices, supporting smart home and industrial applications.
- Automotive - Supplies chips for automotive systems, including advanced driver-assistance systems and infotainment.
- Digital Consumer Electronics - Creates semiconductors for consumer electronics like TVs and gaming consoles.
- Others - Provides chips for miscellaneous applications outside the primary segments.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
C.C. Wei ExecutiveBoard | Vice Chairman and CEO | None | Joined TSMC in 1998; previously served as President and Co-CEO; holds a Ph.D. in Electrical Engineering from Yale University. | View Report → |
Cliff Hou Executive | Senior Vice President of Europe & Asia Sales and Deputy Co-COO | Chairman of Taiwan Semiconductor Industry Association | Joined TSMC in 1997; established TSMC's technology design kit and reference flow development organizations; holds a Ph.D. in Electrical and Computer Engineering from Syracuse University. | View Report → |
Kevin Zhang Executive | Senior Vice President of Business Development and Deputy Co-COO | None | Joined TSMC in 2016; previously Vice President of R&D; holds a Ph.D. in Electrical Engineering from Duke University. | |
Rick Cassidy Executive | Senior Vice President of Corporate Strategy Development and Chairman of TSMC Arizona | None | Joined TSMC in 1997; previously CEO of TSMC North America; holds a B.A. in Engineering Technology from the United States Military Academy at West Point. | |
Sylvia Fang Executive | Senior Vice President, Legal, General Counsel, and Corporate Governance Officer | None | Joined TSMC in 1995; licensed to practice law in Taiwan; holds a master’s degree in Comparative Law from the University of Iowa. | |
Wei-Jen Lo Executive | Senior Vice President of Corporate Strategy Development | None | Joined TSMC in 2004; previously Senior Vice President of R&D; holds a Ph.D. in Solid State Physics & Surface Chemistry from UC Berkeley. | View Report → |
Wendell Huang Executive | Senior Vice President and CFO | None | Senior Vice President and CFO; no additional biographical details provided in the documents. | |
Y.J. Mii Executive | Executive Vice President and Co-COO | None | Joined TSMC in 1994; previously Senior Vice President of R&D; holds a Ph.D. in Electrical Engineering from UCLA. | |
Y.P. Chyn Executive | Executive Vice President and Co-COO | None | Joined TSMC in 1987; previously Senior Vice President of Operations; holds a master’s degree in Electrical Engineering from National Cheng Kung University. | |
L. Rafael Reif Board | Independent Director | President Emeritus of MIT; Co-Chair of Growth Technical Advisory Board at Applied Materials; Director at Council on Foreign Relations and Carnegie Endowment for International Peace | Independent Director since 2021; previously President of MIT; holds a Ph.D. in Electrical Engineering from Stanford University. | |
Michael R. Splinter Board | Independent Director | Lead Independent Director at NASDAQ, Inc.; Independent Director at Gogoro Inc., Tigo Energy, and Kioxia Holdings; General Partner at WISC Partners LP and MRS Business and Technology Advisors | Independent Director since 2015; previously CEO of Applied Materials; holds a Master’s Degree in Electrical Engineering from the University of Wisconsin-Madison. | |
Moshe N. Gavrielov Board | Independent Director | Chairman of SiMa Technologies and Foretellix; Independent Director at NXP Semiconductors | Independent Director since 2019; previously CEO of Xilinx; holds a Bachelor’s and Master’s Degree in Electrical Engineering from the Technion-Israel Institute of Technology. | |
Sir Peter L. Bonfield Board | Independent Director | Chairman of NXP Semiconductors; Non-Executive Director at Imagination Technologies and Darktrace plc; Advisory Board Member at The Longreach Group; Senior Advisor to Alix Partners LLP; Board Mentor at CMi Ltd. | Independent Director since 2002; previously CEO of British Telecommunications; holds a Bachelor’s Degree in Engineering from Loughborough University. | |
Yancey Hai Board | Independent Director | Chairman of Delta Electronics; Director at CTCI Corporation and USI Corporation; Senior Strategy Consultant at Cloud Computing & IoT Association in Taiwan; Chairman of Taiwan Climate Partnership | Independent Director since 2020; holds a master’s degree in International Business Management from the University of Texas at Dallas. |
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With electricity costs in Taiwan having doubled over the past few years and expected to impact your gross margin by at least 1%, what specific strategies do you have to mitigate this impact on profitability, and can you secure more favorable energy pricing or improve energy efficiency to address this challenge?
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As you ramp up your overseas fabs in Arizona and Japan, you anticipate a 2% to 3% annual gross margin dilution over the next few years; given the higher costs and lower profitability of these fabs, how do you plan to improve their cost structures and achieve corporate-level margins in these regions?
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Despite your efforts to more than double CoWoS capacity to meet the overwhelming demand for advanced packaging, you mention that it's still not enough; how are you addressing this supply constraint, and is there a risk that customers might turn to competitors if you cannot meet their demand?
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Considering your significant market share in advanced nodes and packaging, and the introduction of Foundry 2.0, how are you managing potential antitrust concerns, and what measures are you taking to ensure regulatory compliance while continuing to expand your business?
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Given the "insane" demand for AI-related chips and your acknowledgment that customer demand far exceeds your ability to supply, how are you ensuring that this surge does not lead to over-reliance on a few key customers, and what strategies are in place to manage the sustainability and potential volatility of AI-driven demand?
Recent press releases and 8-K filings for TSM.
- Q1 2025 financial performance: Revenue declined due to smartphone seasonality and earthquake impacts, with EPS at TWD 13.94 and gross margin at 58.8%.
- Q2 guidance: Expected revenue is between USD 28.4 billion and USD 29.2 billion with gross margins projected between 57%-59%.
- Capital and capacity expansion: TSMC is advancing its global investments, including a significant USD 100 billion investment in U.S. capacity as part of a broader USD 165 billion U.S. expansion plan.
- Robust AI demand and technology focus: The company remains confident in substantial AI-related revenue growth, supported by demand for advanced nodes and HPC, aiming to double AI accelerator revenue this year.
- TSMC released its consolidated 2024 financial statements prepared under both Taiwan-IFRS and IASB IFRS, showing differences in key metrics such as net income, EPS, total assets, and liabilities.
- The reports highlight that under Taiwan-IFRS, net income attributable to shareholders was NT$1,173,268 million with basic EPS of NT$45.25, while under IASB IFRS, these figures were NT$1,158,380 million and NT$44.68/NT$44.67 respectively.
- A major noted difference involved the timing of the recognition of R.O.C. tax on unappropriated earnings between the two reporting frameworks.
- TSMC reported Q1 2025 results with a net income of NT$361.56 billion and a diluted EPS of NT$13.94 (US$2.12 per ADR), reflecting a 60.4% YoY EPS increase.
- The quarter also saw net sales of NT$839.25 billion and net revenue of US$25.53 billion, underlining robust financial performance.
- Despite strong annual growth, quarter-over-quarter revenue and net income declined by 3.4% and 3.5%, respectively.
- TSMC held its Q1 2025 earnings call on April 17, 2025, during which key financial results and outlook details were discussed.
- For Q2 2025, management provided guidance with expected revenue between US$28.4 billion and US$29.2 billion, along with gross margins of 57%-59% and operating margins of 47%-49%.
- March 2025 net revenue reached NT$285.96 billion, showing a 10.0% month-over-month increase and a 46.5% year-over-year surge.
- The total revenue for January to March 2025 was NT$839.25 billion, up 41.6% compared to the same period in 2024.
- Shareholding adjustments for key executives were reported, including a decrease of 14,000 shares for Senior Vice President Wei-Jen Lo and minor increases for other management.
- The report details asset transactions with an acquisition of NT$14.7 billion in fixed-income investments and a disposition of NT$1.0 billion in machinery equipment.
- The board approved significant capital appropriations for various initiatives: US$710 million for advanced technology capacity, US$1,847 million for advanced packaging and specialty technologies, and US$14,584 million for real estate and capitalized leased assets.
- TSMC announced consolidated net revenue for February 2025 of NT$260.01 billion, representing an 11.3% decrease from January 2025 yet a 43.1% increase compared to February 2024.
- The combined revenue for January through February 2025 totaled NT$553.30 billion, marking a 39.2% year-over-year increase for the period.