Taiwan Semiconductor (NYSE:TSM) posted this Thursday the kind of quarter that usually ends the debate. The numbers were undeniable: $16 billion in profit, 35% year-over-year growth, and forward guidance aggressive enough to pull semiconductor equipment maker ASML up 7% in sympathy.Many saw TSMC the undisputed king of the AI revolution, and analysts scrambled to raise price targets. On the surface, the narrative is simple: TSMC makes the chips that power AI, AI is booming, therefore TSMC wins.But if you stri ...