TSMC (Taiwan Semiconductor)

TSMC holds a roughly $2.3 trillion market cap, reflecting its irreplaceable role as the world's most advanced chipmaker. It manufactures chips for Apple, NVIDIA, AMD, and virtually every AI accelerator, and its 3-nanometre and 2-nanometre process nodes give customers a decisive performance advantage. Its gross margins are among the highest in the chip industry. Geopolitical risk has accelerated its Arizona and Japan fab expansions, with the Phoenix plant already shipping chips and further phases under construction.