TSMC (Taiwan Semiconductor)

Taiwan Semiconductor Manufacturing Company (TSMC) has a market cap of ~$950 billion, reflecting its irreplaceable role as the world's most advanced chipmaker. TSMC manufactures chips for Apple, NVIDIA, AMD, and virtually every AI accelerator on the planet, and its 3-nanometre and 2-nanometre process nodes give its customers a decisive performance advantage over any alternative. Geopolitical risk around Taiwan has pushed TSMC to accelerate its Arizona and Japan fab expansions, with the Phoenix plant completing its first test wafers in late 2025.