Core Viewpoint - TSMC's chairman highlighted strong demand for AI chips despite some impact from US tariffs, with the company maintaining a market cap above $1 trillion [1][3]. Group 1: Company Performance and Market Position - TSMC's stock price increased by approximately 1% following the shareholder meeting, recovering from earlier declines this year [1]. - The company is the leading advanced semiconductor manufacturer globally, serving major clients like Apple, AMD, and NVIDIA [1]. - TSMC's capital expenditure is projected to exceed $40 billion this year, reflecting a long-term focus on AI-driven chip manufacturing demand [3]. Group 2: Impact of Tariffs and Pricing - Although tariffs have had some effect, TSMC has not observed significant changes in customer behavior due to tariff uncertainties [1][2]. - The tariffs may lead to a slight increase in wafer prices, potentially affecting demand [2]. - The cost of TSMC's 2nm process has surged to $30,000 per wafer, indicating rising foundry prices driven by substantial R&D investments [4]. Group 3: Technological Advancements - TSMC is set to launch its 2nm process, with AMD's next-generation Zen 6 processor being the first to utilize this technology [2]. - The company announced plans for the next-generation A14 chip manufacturing technology, expected to be operational by 2028 [3]. Group 4: Competitive Landscape - TSMC remains the only reliable supplier for its advanced N2 manufacturing process, holding significant pricing power in the market [4]. - Major clients like NVIDIA are exploring alternatives to TSMC's N2 process from other foundries, indicating competitive pressures [4]. - Intel is actively expanding its foundry business, aiming to surpass TSMC in manufacturing the fastest chips [5].

Core Viewpoint - TSMC is experiencing some impact from tariffs, but it is not direct as tariffs target importers rather than exporters. The demand for AI chips remains strong, leading to a supply-demand imbalance in AI chip manufacturing [1][4]. Group 1: Financial Performance and Market Position - TSMC's stock price has increased by approximately 1%, and its market capitalization has surpassed $1 trillion after earlier declines this year [1]. - The company is the leading global producer of advanced semiconductors, serving major clients such as Apple, AMD, and NVIDIA [3]. Group 2: Tariff Impact and Customer Behavior - TSMC has not observed any changes in customer behavior due to tariff uncertainties, and the situation is expected to clarify in the coming months [3]. - While tariffs may lead to a slight increase in wafer prices, the overall demand is anticipated to remain robust [4]. Group 3: Technological Advancements and Production Plans - TSMC is set to launch its 2nm process technology, with AMD's next-generation Zen 6 processor being the first to utilize this technology [4]. - The company plans to exceed $40 billion in capital expenditures this year, focusing on the strong demand driven by AI [4]. Group 4: Competitive Landscape - The cost of TSMC's 2nm process has risen to $30,000 per wafer, but TSMC remains the only reliable supplier with significant pricing power [6]. - Competitors like Intel are expanding their foundry services, and some clients are exploring alternatives to TSMC's N2 process from other manufacturers [6][7].