Overview

• TSMC secured an additional 300,000 Nvidia H20 units under revised U.S. export rules, underscoring its central role in manufacturing AI accelerators.
• The company has removed Chinese-made equipment from its most advanced fabs, including new 2nm lines, to reduce regulatory exposure and preserve eligibility for U.S. subsidies.
• Management is prioritizing a roughly $165 billion U.S. build-out across 2024–2025 and has delayed a second $20 billion Kumamoto plant in Japan to shift resources.
• Q2 2025 revenue rose 44% year over year to $30.07 billion, with high-performance computing at 60% of sales and operating margin near 50%, according to Forbes.
• TSMC expects overall 2025 revenue to grow about 30% and its AI-centric business to expand roughly 40% annually from a 2024 base, even as the stock’s year-to-date gain trails U.S. chip peers.