Taiwan Semiconductor Manufacturing Company
TSMpublicSemiconductors (Foundry)
World's largest contract chipmaker — manufactures virtually all advanced AI chips (NVIDIA H/B series, Apple silicon, AMD, Qualcomm). TSMC's CAPEX is the best proxy for global AI chip supply capacity. CoWoS advanced packaging for HBM is a key AI bottleneck.
2024 CAPEX
$30.0B
YoY 2024 vs 2023
+11.1%
Latest Quarter
$11.2B
Q4'25
2025 Guidance
$38.0B–$42.0B
CAPEX History — Quarterly
Guidance Tracker
FY2025
Completed
“We expect our 2025 capital budget to be between $38 billion and $42 billion, driven by N2 capacity build-out, CoWoS advanced packaging expansion, and Arizona fab investments.”
Guided: $38.0B–$42.0B
Actual to date: $42.5B
112%
FY2026
On Track
“We expect 2026 capital expenditure to be between $42B and $48B as N2 ramps to volume production and we accelerate our Arizona and Japan fab investments.”
Guided: $42.0B–$48.0B
FY2027
Pending
“Our 5-year investment plan calls for continued capacity expansion through 2027-2028. A14/A16 process ramp and US fabs drive incremental CAPEX.”
Guided: $48.0B–$55.0B
Key Quotes
C.C. Wei·CEO·2025-01-16
“AI-related demand is real and is accelerating. Our CoWoS capacity is sold out through 2025. We are expanding aggressively to meet demand from all our AI customers.”
Q4 2024 Earnings Call
Partnerships & Investments
NVIDIA
TSMC manufactures all NVIDIA H100/H200/B100/B200 GPUs on N4/N3 process. CoWoS packaging for HBM integration.
supply
Apple
Sole foundry for Apple silicon (M-series, A-series). TSMC N3E process for latest chips.
supply
SEC Filings
taiwansemiconductorsfoundryAI-chipsNVIDIACoWoSN2N3public