Taiwan Semiconductor Manufacturing Company Limited (TSM): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde à enjeux élevés de la fabrication de semi-conducteurs, la Taiwan Semiconductor Manufacturing Company (TSM) est un titan technologique, orchestrant une symphonie complexe d'innovation, de précision et de partenariats stratégiques qui alimentent l'écosystème numérique mondial. Avec 55% Parmi les installations avancées de puces avancées au monde qui représentent le summum des prouesses technologiques, TSM transforme le silicium en moteurs microscopiques conduisant tout, des smartphones à l'intelligence artificielle, créant un modèle commercial aussi complexe que les circuits à l'échelle nanométrique qu'ils fabriquent.

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Modèle d'entreprise: partenariats clés

Fabricants d'équipements de semi-conducteurs avancés

TSMC collabore avec les principaux fabricants d'équipements de semi-conducteurs:

Partenaire	Détails du partenariat	2023 Valeur d'approvisionnement en équipement
ASML	Systèmes de lithographie ultraviolette extrême (EUV)	6,2 milliards de dollars
Matériaux appliqués	Équipement de fabrication de semi-conducteurs	4,8 milliards de dollars
Lam Research	Équipement de transformation des plaquettes	3,9 milliards de dollars

Partenariats de sociétés technologiques principales

Les principaux partenariats technologiques de TSMC comprennent:

• Apple: fabrication de puces de 5 nm et 3nm
• Nvidia: production avancée de puces GPU
• Qualcomm: Manufacturing de processeur mobile
• MediaTek: Production de puces smartphones et IoT

Collaboration des institutions de recherche

Institution	Focus de recherche	Investissement annuel de collaboration
Université nationale de Taïwan	Matériaux semi-conducteurs avancés	45 millions de dollars
Mit	Innovations de processus semi-conducteurs	62 millions de dollars
Université de Stanford	Conception de puces de nouvelle génération	55 millions de dollars

Alliances de conception de puces stratégiques

Partenariats de conception stratégique de TSMC:

• AMD: fabrication de processeurs avancés
• Broadcom: production de puces de réseautage
• Marvell Technology: Solutions de semi-conducteurs personnalisés

Collaborations technologiques gouvernementales

Entité gouvernementale	Type de collaboration	Investissement annuel
Ministère des affaires économiques de Taïwan	Recherche avancée des semi-conducteurs	180 millions de dollars
Département américain de la défense	Fabrication de puces sécurisée	250 millions de dollars

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Modèle d'entreprise: activités clés

Fabrication avancée des puces semi-conductrices

TSMC exploite 13 usines de fabrication dans le monde, avec un total de 6 emplacements à Taïwan et 7 installations internationales. La société a produit environ 153 millions de tranches équivalentes de 12 pouces en 2022.

Capacité de fabrication	2023 données
Production totale de plaquettes	16,4 millions de tranches équivalentes de 12 pouces
Nœuds de processus avancés (5 nm et moins)	47% de la capacité de production totale
Dépenses en capital annuelles	36,3 milliards USD

Processus de pointe Recherche et développement technologique

TSMC a investi 4,5 milliards de dollars dans la recherche et le développement en 2022, en se concentrant sur les technologies avancées de semi-conducteurs.

• Développement de la technologie des processus 3NM
• 2NM Process Technology Research
• Technologies d'emballage avancées
• Innovation de lithographie ultraviolette extrême (EUV)

Fabrication de semi-conducteurs de précision

Métriques de fabrication	Performance de 2023
Précision de fabrication	Précision nanométrique de 0,5
Taux de rendement	Plus de 90% pour les nœuds avancés
Densité de défaut	Moins de 0,1 défauts par centimètre carré

Innovation continue dans les processus de conception et de fabrication des puces

TSMC maintient le leadership technologique grâce à l'innovation continue à travers les processus de fabrication de semi-conducteurs.

• Optimisation de la fabrication dirigée par l'IA
• Recherche avancée des matériaux semi-conducteurs
• Développement d'architecture de puce de nouvelle génération

Production de plaquettes de haute précision à volume élevé

Métriques de production	2023 données
Envois totaux de plaquettes	16,4 millions de tranches équivalentes de 12 pouces
Revenus de la fabrication des plaquettes	59,4 milliards de dollars
Part de marché sur le marché des fonds	53% à l'échelle mondiale

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Modèle d'entreprise: Ressources clés

Installations avancées de fabrication de semi-conducteurs

TSMC exploite 13 installations de fabrication distinctes à Taiwan en 2024. La capacité de fabrication totale atteint 18,1 millions de plaquettes équivalentes de 12 pouces par an.

Emplacement de l'installation	Capacité (tranches de 12 pouces / mois)	Nœud technologique
Hsinchu Science Park	250,000	3nm
Tainan Science Park	180,000	5nm
Central Taiwan Science Park	150,000	7nm

Ingénierie hautement qualifiée et main-d'œuvre technique

TSMC emploie 56 801 employés au total en décembre 2023, avec 64% détenant des diplômes techniques avancés.

• Personnel R&D: 9 200 employés
• Ingénieurs de processus avancés: 6 500 spécialistes
• Expérience d'ingénierie moyenne: 12,4 ans

Portfolio de propriété intellectuelle étendue

TSMC détient 37 500 brevets mondiaux liés aux semi-conducteurs à partir de 2024, avec 15 200 brevets actifs dans les processus de fabrication de semi-conducteurs.

Investissement en capital massif

Les dépenses en capital pour 2024 prévoyaient de 32 à 36 milliards de dollars, axées sur le développement de technologies de processus avancées.

Catégorie d'investissement	2024 allocation
Installations de nœuds avancés	22 milliards de dollars
Recherche et développement	4,5 milliards de dollars
Amélioration de l'équipement	9,5 milliards de dollars

Technologies de fabrication propriétaires

TSMC mène dans les nœuds de processus avancés, avec 3nm et 2NM technologies actuellement en développement.

• Part de marché du processus 3NM: 92%
• Part de marché du processus 5nm: 87%
• 7nm Part de marché du processus: 80%

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Modèle d'entreprise: propositions de valeur

Capacités de fabrication de semi-conducteurs à tête mondiale

Depuis le quatrième trimestre 2023, TSMC a tenu 53.1% de la part de marché mondiale de la fonderie des semi-conducteurs. La société a produit 16,4 millions de tranches en 2023, avec des nœuds de processus avancés (5 nm et moins) représentant 51% du chiffre d'affaires total de la tranche.

Node de processus	Part de marché	Contribution des revenus
5nm	36%	22,4 milliards de dollars
3nm	15%	9,6 milliards de dollars

Les technologies de fabrication de puces les plus élevées et les plus avancées

Le leadership technologique de TSMC est démontré:

• Le premier fabricant en masse produit des puces 3NM
• Technologie de processus 2NM en développement
• Investi 32,4 milliards de dollars dans les dépenses en capital pour la recherche sur les technologies de pointe en 2023

Qualité et fiabilité cohérentes dans la production de semi-conducteurs

TSMC maintient 99.9% Fabrication de rendement pour les nœuds de processus avancés. La densité des défauts de l'entreprise est 0,05 défauts par centimètre carré pour la technologie 5 nm.

Capacité à produire des puces semi-conductrices les plus complexes et les plus complexes

Nœud technologique	Densité de transistor	Efficacité énergétique
3nm	290 millions de transistors / mm²	Jusqu'à 30% de réduction de puissance
2nm (prévu)	450 millions de transistors / mm²	Réduction de l'énergie attendue de 40%

Solutions de fabrication rentables pour les entreprises technologiques mondiales

Stratégie de tarification de TSMC pour 2024:

• Prix ​​du processus 5nm: 10 500 $ par plaquette
• Prix ​​du processus 3NM: 15 000 $ par tranche
• Service 480+ clients globalement

Revenu total en 2023: 61,5 milliards de dollars, avec une marge bénéficiaire nette de 36.4%.

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Modèle d'entreprise: relations avec les clients

Partenariats stratégiques à long terme avec les grandes entreprises technologiques

TSMC maintient des partenariats stratégiques avec des sociétés technologiques clés:

Client	Détails du partenariat	Valeur de collaboration annuelle
Apple Inc.	Fabrication avancée des puces	22,6 milliards de dollars (2023)
Nvidia Corporation	Conception avancée de semi-conducteurs	15,3 milliards de dollars (2023)
Qualcomm	Fabrication de processeurs mobiles	8,7 milliards de dollars (2023)

Soutien technique dédié et services de conception collaborative

Métriques de support technique pour 2023:

• Équipes de support technique 24/7 24/7
• Temps de réponse moyen: 2,3 heures
• Taux de satisfaction client: 94,5%
• Équipes d'ingénierie dédiées: 3 200 spécialistes

Solutions de fabrication personnalisées

Capacités de personnalisation de la fabrication:

Processus de fabrication	Niveau de personnalisation	Capacité annuelle
Processus 3NM	Haute personnalisation	100 000 plates-formes par mois
Processus 5nm	Personnalisation moyenne	150 000 Wafers par mois

Développement et innovation de la technologie continue

Investissement de recherche et développement:

• Dépenses de R&D: 4,5 milliards de dollars (2023)
• Demandes de brevet: 2 879 (2023)
• Centres d'innovation: 6 emplacements mondiaux

Communication transparente et rapport de performance

Métriques de rapport et de communication:

Métrique de rapport	Fréquence	Score de transparence
Rapports financiers	Trimestriel	95/100
Métriques de performance	Mensuel	92/100

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Modèle d'entreprise: canaux

Équipes de vente directes

TSM maintient 12 bureaux de vente mondiaux sur les principaux marchés technologiques, y compris les emplacements dans:

Région	Nombre de bureaux de vente
Amérique du Nord	3
Europe	2
Asie-Pacifique	7

Conférences de technologie et événements de l'industrie

TSM participe à environ 18-22 conférences de semi-conducteurs majeures par an, avec: avec:

• 3,2 millions de dollars d'investissement annuel dans la participation des événements de l'industrie
• Moyenne de 45 à 50 présentations techniques par an
• Engagement direct avec 1 200 à 1 500 décideurs de la technologie clés

Documentation technique en ligne et plateformes de support

Métrique de la plate-forme	Statistiques
Pages de documentation technique	3 742 pages actives
Visiteurs annuels du site Web	2,1 millions
Temps de réponse en ligne du support	Moins de 4 heures

Gestion de compte stratégique

TSM gère les relations avec 480 clients de technologie stratégique, avec des équipes de compte dédiées couvrant:

• Sociétés technologiques de niveau 1
• Sociétés de conception de semi-conducteurs
• Principaux fabricants d'électronique

Réseau mondial de l'industrie des semi-conducteurs

La portée du réseau comprend:

Dimension du réseau	Portée
Entreprises partenaires	653 partenaires technologiques actifs
Centres de collaboration de recherche	27 centres de recherche mondiaux
Investissement annuel de recherche collaborative	412 millions de dollars

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Modèle d'entreprise: segments de clientèle

Fabricants de smartphones

TSMC dessert les principaux fabricants de puces de smartphones avec les clients clés suivants:

Client	Part de marché	Volume de puce (2023)
Pomme	25.3%	180 millions de jetons
Qualcomm	18.7%	135 millions de puces
Médiatiser	15.5%	110 millions de puces

Graphiques et concepteurs de puces AI

La technologie avancée des semi-conducteurs de TSMC prend en charge les graphiques et la production de puces AI:

• Nvidia: nœuds de processus 4NM et 5NM
• AMD: nœuds de processus 5 nm et 7nm
• Intel: fabrication de puces AI personnalisées

Sociétés informatiques hautes performances

TSMC fournit des solutions avancées semi-conductrices pour l'informatique haute performance:

Client	Segment informatique	Volume de puce (2023)
Services Web Amazon	Cloud computing	45 millions de puces
Microsoft Azure	Informatique d'entreprise	38 millions de puces
Google Cloud	Infrastructure d'IA	32 millions de puces

Fabricants de semi-conducteurs automobiles

TSMC prend en charge la production de semi-conducteurs automobiles avec des processus spécialisés:

• Bosch: production de plaquettes de 8 pouces et 12 pouces
• Continental AG: Chips avancées de systèmes d'aide à la conduite (ADAS)
• Semi-conducteurs NXP: plates-formes informatiques automobiles

Marques d'électronique grand public

TSMC fournit des solutions de semi-conducteurs pour diverses électroniques grand public:

Client	Catégorie de produits	Volume de puce (2023)
Samsung	Appareils à domicile intelligents	75 millions de jetons
Sony	Consoles de jeu	42 millions de puces
LG	Électronique grand public	35 millions de jetons

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Modèle d'entreprise: Structure des coûts

Dépenses en capital massives pour les installations de fabrication

En 2023, les dépenses en capital totales de TSMC ont atteint 32,4 milliards de dollars. Les dépenses en capital prévues pour 2024 sont prévues de 28 milliards de dollars à 32 milliards de dollars.

Année	Dépenses en capital
2022	36,3 milliards de dollars
2023	32,4 milliards de dollars
2024 (projeté)	28 à 32 milliards de dollars

Investissements de recherche et développement importants

Les dépenses de R&D de TSMC en 2023 ont totalisé 4,18 milliards de dollars, ce qui représente 7,1% de ses revenus totaux.

• 2022 dépenses de R&D: 3,95 milliards de dollars
• 2023 dépenses de R&D: 4,18 milliards de dollars
• Pourcentage d'investissement en R&D: 7,1% des revenus

Équipement de fabrication avancé à coût élevé

Les machines de lithographie Ultraviolet Extreme Advanced (EUV) coûtent environ 150 millions de dollars par unité. TSMC exploite plusieurs machines de ce type dans ses installations de fabrication.

Frais de main-d'œuvre et d'acquisition de talents substantiels

Les dépenses totales des employés en 2023 étaient de 10,2 milliards de dollars. La compensation moyenne des employés était de 94 500 $ par an.

Métrique de la main-d'œuvre	2023 données
Total des employés	68,000
Dépenses totales des employés	10,2 milliards de dollars
Compensation moyenne	$94,500

Développement technologique continu et maintenance des infrastructures

Les coûts d'infrastructure et de maintenance technologique en 2023 étaient estimés à 2,5 milliards de dollars, couvrant les mises à niveau des équipements, l'entretien des installations et le développement des infrastructures technologiques.

• Maintenance des infrastructures: 1,2 milliard de dollars
• Coûts de mise à niveau de la technologie: 1,3 milliard de dollars
• Budget annuel de développement technologique: 2,5 milliards de dollars

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Modèle d'entreprise: Strots de revenus

Contrats de fabrication de plaquettes semi-conducteurs

Revenu total en 2023: 75,04 milliards de dollars Envois de plaquettes en 2023: 17,1 millions de tranches équivalentes de 12 pouces

Segment de clientèle	Pourcentage de revenus
Appareils mobiles	45%
Informatique haute performance	28%
Internet des objets	12%
Électronique automobile	10%
Autre	5%

Licence de technologie de processus avancée

Revenus de licence technologique en 2023: 652 millions de dollars

Services de fabrication de puces personnalisées

• Revenus de fabrication de puces personnalisées: 12,3 milliards de dollars en 2023
• Nombre de projets de conception de puces personnalisés: 480 en 2023

Production de semi-conducteurs à bord d'attaque à marge élevée

3NM Process Technology Revenue: 24,6 milliards de dollars en 2023 Marge brute pour les nœuds avancés: 62,5%

Revenus de transfert de propriété intellectuelle et de technologie

Catégorie IP	Revenu
Processez la technologie IP	438 millions de dollars
Concevoir IP	214 millions de dollars

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Canvas Business Model: Value Propositions

You're looking at the core reasons why the world's top technology firms line up for capacity at Taiwan Semiconductor Manufacturing Company Limited (TSM). The value proposition here isn't just about making chips; it's about being the indispensable, highest-quality manufacturer for the most demanding silicon on the planet.

Unmatched process leadership and highest manufacturing yield at scale

Taiwan Semiconductor Manufacturing Company Limited (TSM) maintains its lead by consistently pushing the limits of physics and engineering. This translates directly into superior product performance for customers. As of late 2025, the company's advanced nodes are the primary revenue driver.

The combined output from the advanced 3nm and 5nm nodes accounted for 60% of total wafer sales in the third quarter of 2025. Looking at a broader set of leading-edge technologies, the 3nm, 5nm, and 7nm nodes together represented 74% of total wafer revenue in the second quarter of 2025. The transition to the 2nm node, using GAA (Gate-All-Around) transistors, is set for high-volume production in late 2025. This 2nm technology promises a 24-35% lower power consumption and 15% higher performance than the 3nm node, achieved with 1.15x greater transistor density using N2 NanoFlex DTCO technology.

This technological supremacy is validated by financial results. For instance, in the third quarter of 2025, Taiwan Semiconductor Manufacturing Company Limited (TSM) reported an Earnings Per Share (EPS) of $2.92, beating the consensus estimate of $2.59. The gross margin in that quarter was reported at 59.5% or ~58.6%, with a net profit margin of 45.69%. The company's operational efficiency is clear, with a Return on Assets of 17.43% and a Return on Capital of 21.41% in Q3 2025. To maintain this lead, capital expenditures for 2025 are set between $40 billion and $42 billion, with approximately 70% of that directed toward advanced manufacturing processes.

The sheer scale of this operation means that Taiwan Semiconductor Manufacturing Company Limited (TSM) manufactures nearly 90% of the world's most advanced logic chips. That's a massive amount of silicon that simply has to work right the first time.

Key Financial and Operational Metrics (Late 2025 Data)

Metric	Value/Range	Period/Context
Q3 2025 Revenue	$33.1 billion (or $32.36 billion)	Year-over-year growth of 41% (or 40.1%)
Q3 2025 EPS	$2.92	Beat consensus of $2.59
Gross Margin	59.5% (or ~58.6%)	Q3 2025
Net Profit Margin	45.69%	Q3 2025
2025 Capital Expenditures (CapEx)	$40 billion to $42 billion	~70% focused on advanced manufacturing
Advanced Node Share (3nm/5nm)	60%	Of total wafer sales (Q3 2025)

Pure-play foundry model: no competition with customers' end products

You don't have to worry about Taiwan Semiconductor Manufacturing Company Limited (TSM) becoming your competitor. This is the core of the pure-play foundry model, and it's a huge trust factor for fabless designers.

This model has cemented Taiwan Semiconductor Manufacturing Company Limited (TSM)'s position as the market leader. The company commands a dominant share of the global pure-play foundry market, reported at 70.2% or roughly 62% of the global chip market overall. This means that for the most advanced designs, from companies like NVIDIA, AMD, Apple, Qualcomm, and Broadcom, Taiwan Semiconductor Manufacturing Company Limited (TSM) is practically the only choice for large-scale, leading-edge manufacturing.

One-stop-shop for advanced logic and 3D packaging (CoWoS)

The value proposition extends beyond the silicon wafer itself to how those chips are integrated. Advanced packaging, specifically Chip-on-Wafer-on-Substrate (CoWoS), is critical for high-performance computing and AI accelerators.

Taiwan Semiconductor Manufacturing Company Limited (TSM) is aggressively scaling this capability. Advanced packaging revenue is projected to exceed 10% of total revenue in 2025, up from roughly 8% in 2024. The company aims to quadruple its CoWoS capacity by the end of 2025. Estimates for monthly CoWoS capacity by the end of 2025 range from 65,000 to 75,000 Wafer Per Month (WPM). For context, the projected split for 2025 included CoWoS-L reaching around 45,000 WPM monthly.

Demand is heavily concentrated, showing the critical nature of this offering. NVIDIA secured over 70% of Taiwan Semiconductor Manufacturing Company Limited (TSM)'s CoWoS-L advanced packaging capacity for 2025. Looking at overall CoWoS demand share for 2025, NVIDIA dominates with 63%, followed by Broadcom at 13%, while AMD and Marvell each account for 8%.

Enabling the highest performance and power efficiency for AI/HPC chips

The AI infrastructure buildout is the single biggest driver for Taiwan Semiconductor Manufacturing Company Limited (TSM) right now, and its value proposition is directly tied to enabling that growth.

The High-Performance Computing (HPC) segment, which includes advanced AI chips, has overtaken smartphones as the largest revenue source. In the second quarter of 2025, AI applications alone constituted a staggering 60% of revenue. Management expects AI-related revenues to double again in 2025. The company's wafer shipments for AI products are projected to be 12 times those of 2021 by the end of 2025. The demand is so intense that the company confirmed its advanced-node capacity remains three times below customer demand. To secure allocation, some customers are reportedly paying 50-100% "hot-run" premiums.

The value is captured in this market dynamic:

• AI-related revenues are expected to double again in 2025.
• HPC accounted for 57% of Q3 2025 revenue of $33.1 billion.
• Advanced node capacity is three times below customer demand.
• Customers are paying up to 100% premiums for allocation.

Geographically diversified production capacity (Taiwan, US, Japan)

While the bulk of manufacturing remains in Taiwan, the value proposition now includes a commitment to geographic flexibility, driven by customer needs and geopolitical incentives.

Taiwan Semiconductor Manufacturing Company Limited (TSM) is executing a massive global expansion. In the United States, the company is investing $165 billion to build five new state-of-the-art fabrication facilities and two advanced packaging facilities in Arizona. This includes a pledge of up to $6.6 billion to expand its Arizona facilities, complementing an existing $65 billion investment there. The goal is ambitious: Taiwan Semiconductor Manufacturing Company Limited (TSM) expects 30% of its most advanced wafer manufacturing capacity (N2 and below) to be located in the US by 2028.

The diversification also includes Japan, where the company is building its second fabrication facility in Kumamoto. However, you should note that these overseas fabs come with a cost. These new facilities are expected to drag down gross margins by 2-3 percentage points annually over the next three to five years due to higher labor and energy costs, alongside lower initial utilization rates compared to mature fabs in Taiwan.

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Canvas Business Model: Customer Relationships

You're a financial analyst looking at the core of Taiwan Semiconductor Manufacturing Company Limited (TSM)'s moat, which is deeply rooted in its customer relationships. These aren't transactional; they are partnerships that lock in future capacity and technology leadership. The sheer scale of their financial commitment reflects this, with capital expenditures set between $40 billion and $42 billion for fiscal year 2025, with approximately 70% of that spending dedicated to advanced manufacturing processes to meet these commitments.

High-touch, collaborative R&D for custom silicon and process tuning

Taiwan Semiconductor Manufacturing Company Limited (TSM) embeds its engineering teams with key customers to co-develop solutions, especially for leading-edge logic. This collaborative approach ensures silicon success rates and process tuning are optimized for specific, high-volume designs. The success of this model is evident in the technology adoption rates:

• Advanced technologies (7nm and below) accounted for 74% of total revenue in the second quarter of 2025.
• The 3-nanometer (N3) family contributed 24% of wafer revenue in Q2 2025.
• The 5-nanometer (N5) platform remained the largest contributor at 36% of wafer revenue in Q2 2025.
• Management expects AI-related revenues to double again in 2025.

This intense focus on the leading edge means that for the most demanding chips, like AI accelerators, the relationship is a true co-development effort. The company posted Q3 2025 revenues of $33.1 billion, showing the financial payoff from these deep ties.

Long-term capacity reservation agreements for advanced nodes (e.g., N2)

Securing capacity on future nodes, like the upcoming N2, is done through long-term agreements that provide Taiwan Semiconductor Manufacturing Company Limited (TSM) with the revenue visibility needed to justify massive CapEx. These agreements often involve upfront payments or firm volume commitments, effectively de-risking the multi-year technology ramp. While specific N2 contract values aren't public, the commitment to future tech is clear from the current spending profile.

Dedicated account management for top-tier, high-volume clients

The top-tier, high-volume clients, particularly those driving the AI boom, receive the highest level of service, including dedicated management teams that interface across R&D, manufacturing, and supply chain logistics. This ensures priority access to constrained resources like advanced packaging (CoWoS). The company's Q2 2025 revenue was $30.07 billion, a 44.4% increase year-over-year, driven by this demand. The Q3 2025 EPS surged 39% to $2.92, reflecting the pricing power derived from serving these critical customers.

Self-service via the Open Innovation Platform (OIP) for design ecosystem access

For the broader customer base, Taiwan Semiconductor Manufacturing Company Limited (TSM) offers the Open Innovation Platform (OIP) as a self-service infrastructure. This platform lowers design barriers by providing access to proven IP, design implementation tools, and design for manufacturability (DFM) capabilities. The OIP ecosystem is actively managed, with events like the 2025 Global OIP Ecosystem Forum held across North America (September 24), Japan (October 24), Taiwan (November 18), Europe (November 25), and China (December 4). Ecosystem partners, such as Teradyne, earn recognition within the OIP for work on advanced-node testing, validating the platform's role in the supply chain.

Maintaining strict customer trust and IP integrity

Trust is the non-negotiable foundation, especially when handling the most valuable intellectual property in the world. Taiwan Semiconductor Manufacturing Company Limited (TSM)'s commitment to IP protection is demonstrated through its consistent leadership in patent filings. This dedication helps secure its position as the first choice for customers.

Here's a snapshot of the IP commitment based on recent filings:

Metric	Value/Statistic	Period/Context	Citation
Top Resident Invention Patent Applicant	562 applications	Q2 2025 (Taiwan)
Consecutive Years as Top Resident Applicant	Nine years	Since Q2 2017
Top Non-Resident Invention Patent Applicant	242 applications (Applied Materials)	Q2 2025 (Taiwan)
Reported IP Concern Buzz	Allegations involving a former executive	Late 2025

The company's consistent patenting activity, leading resident applicants in Q2 2025, underscores the continuous effort to protect both its own innovations and, by extension, the IP entrusted to it by customers. That said, any news, like the late 2025 buzz regarding an IP issue involving a former executive, draws cautious attention from users.

Finance: draft 13-week cash view by Friday.

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Canvas Business Model: Channels

The channels Taiwan Semiconductor Manufacturing Company Limited (TSM) uses to reach its customer segments are deeply integrated with its manufacturing footprint and global sales presence. This is not a simple transactional model; it's a high-touch, capital-intensive delivery system.

Direct sales and technical engagement teams with major customers

Taiwan Semiconductor Manufacturing Company Limited (TSM) relies on direct engagement, which is logical given the complexity of its advanced process technologies. The geographic distribution of revenue clearly shows where this direct sales effort is concentrated. For the latest reported periods in 2025, the United States accounted for approximately 68.8% of total revenue. This high concentration necessitates robust, direct technical teams in North America to support key clients like those in AI and HPC sectors.

The company's sales figures for 2025 reflect this channel's effectiveness, with cumulative revenue for January through October 2025 reaching NT$3,130.44 billion. Even in a single month like August 2025, revenue hit NT$335.77 billion (US$ 10.41 billion). This direct interaction is critical for securing multi-year capacity agreements and managing the ramp-up of advanced nodes.

Global network of fabrication plants (fabs) for manufacturing and delivery

The physical channel is the network of fabrication plants, which are the ultimate delivery mechanism for the value proposition. Taiwan Semiconductor Manufacturing Company Limited (TSM) operates a massive, geographically diversified manufacturing base. In 2024, the annual capacity across all managed facilities was approximately 17 million 12-inch equivalent wafers.

The network includes facilities in multiple jurisdictions, supported by significant capital expenditure, with a planned 2025 CapEx budget between US$38-42 billion.

• Taiwan Operations: Home to four 12-inch wafer GIGAFAB® fabs, four 8-inch wafer fabs, and one 6-inch wafer fab. For example, Fab 15 A has a capacity of 100,000 12-inch wafers per month.
• United States Operations: The Arizona investment is being expanded to a total of US$165 billion, encompassing plans for three new fabrication plants and two advanced packaging facilities. The first Arizona fab began volume production in late 2024.
• Japan Operations: The Japan Advanced Semiconductor Manufacturing, Inc. (JASM) subsidiary operates one 12-inch wafer fab, with construction on a second fab planned to begin in late 2025. The combined facility is expected to produce over 100,000 12-inch wafers per month.
• China Operations: Includes wholly owned subsidiaries like TSMC Nanjing Company Limited (two 12-inch wafer fabs) and TSMC China Company Limited (two 8-inch wafer fabs).
• Europe Operations: Construction started on a specialty technology fab in Dresden, Germany, in 2024.

Online portals and design kits for IP and process access

While manufacturing is physical, access to the process technology itself is facilitated digitally. Taiwan Semiconductor Manufacturing Company Limited (TSM) supports its customer base, which numbered 522 customers in 2024, through digital means. These channels include online portals for accessing design rules, process design kits (PDKs), and intellectual property (IP) libraries necessary for customer chip design.

The sheer volume of manufactured products, 11,878 in 2024, implies a massive, well-utilized digital infrastructure to manage the design-to-fab handoff for all these unique items. This digital access is key to scaling the foundry model without linearly scaling the direct engineering team for every small design change.

Overseas subsidiaries and offices (e.g., US, Japan, Europe) for local support

Beyond the fabs, Taiwan Semiconductor Manufacturing Company Limited (TSM) maintains a physical presence globally for customer support, account management, and engineering services. These offices are crucial for bridging the gap between the main manufacturing sites and international customers, especially those in high-revenue regions like the US (68.8% of revenue).

Key locations for these support and management functions include:

• North America
• Europe
• Japan
• China
• South Korea

The company also secured approximately US$1.17 billion in subsidies in Q1 2025 and US$1.06 billion in Q2 2025 from governments including the US and Germany to support these global expansion efforts.

Third-party logistics providers for secure global wafer shipment

The final step in the channel involves the secure, timely movement of finished wafers. Given the high value and sensitivity of semiconductor products, Taiwan Semiconductor Manufacturing Company Limited (TSM) uses specialized third-party logistics providers to manage global shipment from its fabrication sites to customers worldwide. This outsourcing of logistics helps manage the complexity of moving high-value goods across international borders, complementing the revenue generated outside Taiwan, which was about 90.7% of total revenue in late 2024.

Here's a quick look at the scale of the operation feeding these channels:

Metric	Value (Latest Available Data)
January-October 2025 Cumulative Revenue	NT$3,130.44 billion
Q1 2025 Gross Profit Margin	58.8%
Total Planned US Investment	US$165 billion
2024 Customer Count	522
Global Foundry Market Share (Q3 2024)	64.9%

Finance: draft 13-week cash view by Friday.

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Canvas Business Model: Customer Segments

You're looking at the core of Taiwan Semiconductor Manufacturing Company Limited's (TSM) power-who actually pays the bills and drives the technology roadmap. Honestly, the customer list reads like a who's who of global tech, but the concentration is what matters for a financial analyst.

The customer base is highly concentrated, which is both a strength in terms of volume and a risk factor. For instance, in the third quarter of 2025, the top ten customers collectively accounted for approximately 76% of Taiwan Semiconductor Manufacturing Company Limited's total revenue. This reliance means that the fortunes of these few giants directly dictate Taiwan Semiconductor Manufacturing Company Limited's performance.

High-Performance Computing (HPC) and AI chip designers (e.g., NVIDIA, AMD)

This is the engine room now. High-Performance Computing, which captures data center CPUs, GPUs, and AI accelerators, is the single largest revenue contributor. In the third quarter of 2025, this segment drove 57% of total revenue. The growth here is structural, not just cyclical. Management is projecting that revenue from AI-focused chips will roughly double in 2025 alone. Furthermore, the compound annual growth rate (CAGR) for AI-related sales between 2024 and 2029 is now expected to exceed an earlier estimate of 45%.

The advanced nodes are where the action is; the 3nm process alone accounted for 23% of revenue in Q3 2025, and the 5nm node contributed 37%. In total, the most advanced technologies-3nm and 5nm-made up 60% of wafer revenue in Q3 2025.

Smartphone and consumer electronics giants (e.g., Apple, Qualcomm, MediaTek)

While AI leads, the mobile segment is still massive, representing 30% of net revenue in Q3 2025. Apple remains a foundational customer. Back in 2024, Apple's spending hit a record of NT$624.3 billion, which was 22% of Taiwan Semiconductor Manufacturing Company Limited's total revenue that year. You should note that Apple has reportedly secured at least half of Taiwan Semiconductor Manufacturing Company Limited's 2nm process capacity through 2026.

Here's a quick look at the estimated revenue share for the top players in 2025, which clearly shows the split between the AI/HPC titans and the mobile leaders:

Customer Group	Estimated 2025 Revenue Share (Range 1)	Estimated 2025 Revenue Share (Range 2)
Apple	25% to 27%	25.18%
NVIDIA	11%	10.11%
MediaTek	9%	5.21%
Qualcomm	8%	6.45%
AMD	7%	5.54%
Broadcom	7%	6.45%

Cloud service providers designing custom silicon (e.g., Amazon, Google, Meta)

These hyperscalers are folded into the HPC segment, but their custom Application-Specific Integrated Circuits (ASICs) are a key driver for advanced node utilization. Their demand for massive, power-efficient AI training and inference hardware keeps the 3nm and 5nm capacity tight. In Q1 2025, HPC revenue growth was 7% Quarter-over-Quarter (QoQ) specifically because cloud and AI customers ramped up orders.

Integrated Device Manufacturers (IDMs) outsourcing advanced nodes (e.g., Intel)

It's interesting to see traditional IDMs becoming foundry customers for the most advanced nodes. Intel is estimated to account for around 6% or 3.91% of Taiwan Semiconductor Manufacturing Company Limited's revenue in 2025. This outsourcing trend validates Taiwan Semiconductor Manufacturing Company Limited's process lead, as Intel relies on the foundry for leading-edge chip production.

Automotive and Industrial chipmakers using specialty processes

This segment is currently showing less momentum compared to AI. While automotive-related revenue did jump 14% QoQ in Q1 2025, driven by ADAS and microcontroller orders, analysts noted that 200-mm silicon wafer shipments-which often reflect industrial and automotive demand-showed weakness early in 2025. Taiwan Semiconductor Manufacturing Company Limited is dedicating capacity to mature and specialty nodes, like 22nm and 28nm, for these customers, but the overall growth narrative is currently dominated by the leading edge.

The reliance on advanced nodes (7nm and below) for 74% of total wafer revenue shows where the current financial gravity lies.

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Canvas Business Model: Cost Structure

You're looking at the engine room of Taiwan Semiconductor Manufacturing Company Limited's (TSM) business model, and frankly, it's a machine built on gargantuan, non-negotiable spending. The cost structure is dominated by the sheer scale and technological intensity required to stay ahead in advanced semiconductor manufacturing.

Extremely High Capital Expenditure

The most visible cost is the Capital Expenditure (CapEx), which reflects the constant need to build and equip the next generation of fabrication plants (fabs). For 2025, Taiwan Semiconductor Manufacturing Company Limited has set its CapEx forecast in the range of US$40-42 billion to meet surging demand, particularly from artificial intelligence applications. This is a significant step up from the approximately US$29.8 billion invested in 2024. To put this into perspective, the company spent US$36.29 billion in 2022, which was a previous record high. The allocation of this massive 2025 CapEx is heavily weighted toward maintaining technological supremacy.

• Advanced process development is slated to receive 70 percent of the 2025 CapEx.
• Specialty processes are targeted for 10-20 percent of the investment.
• High-end IC assembly, testing, photomasking, and other items account for the remaining 10 percent.

Intensive R&D Spending

To maintain the process lead, Taiwan Semiconductor Manufacturing Company Limited pours billions into Research and Development (R&D). In 2024, total R&D expenditures amounted to $6.227 billion, which represented 7.1 percent of that year's revenue. Management has indicated that the 2025 R&D budget is estimated to be around 7 percent of 2025 revenue, ensuring the pipeline of future technologies, like the A16 logic technology platform, remains funded. This spending is critical because the company's competitive advantage is directly tied to its ability to deliver leading-edge nodes.

High Depreciation Costs

The specialized equipment-think Extreme Ultraviolet (EUV) lithography machines-that forms the core of advanced node manufacturing carries an enormous upfront cost and a significant depreciation charge. This is a non-cash expense, but it directly impacts reported profitability and cash flow planning. Looking at the first half of 2025, the reported depreciation expense was NT$359,012,194 thousand for the six months ended June 30, 2025. For the first quarter of 2025 alone, the depreciation expense was NT$173,004,927 thousand.

Significant Utility and Raw Material Costs

Running a wafer fab is incredibly resource-intensive. The cost structure includes substantial recurring expenses for utilities and raw materials. Taiwan Semiconductor Manufacturing Company Limited requires adequate supplies of materials like silicon wafers, gases, chemicals, and photoresist. Furthermore, energy costs are a major component. Management noted that electricity prices in Taiwan have doubled in recent years, and they expect Taiwan to have the highest electricity costs among all operational regions in 2025, potentially reducing the gross profit margin by about 1 percent for the year.

Here's a look at how major cost drivers break down, using available data points:

Cost Component Category	Specific Item/Metric	Reported Value/Estimate
Capital Expenditure (2025 Estimate)	Total CapEx Range	US$40 billion to US$42 billion
R&D Spending	Annual R&D Expense (2024)	$6.227 billion
R&D Spending	Estimated R&D as % of Revenue (2025)	~7 percent
Depreciation Expense	Six Months Ended June 30, 2025	NT$359,012,194 thousand
Raw Materials	Key Inputs	Silicon wafers, gases, chemicals, photoresist
Utilities	Electricity Cost Impact (2025 Estimate)	Potential 1 percent reduction in gross profit margin due to Taiwan rates

Rising Operating Costs from New Overseas Fabs

Expanding manufacturing footprint overseas, notably in Arizona (US) and Japan, introduces new operating cost pressures that differ from the highly optimized Taiwanese base. Management has indicated that higher costs at these overseas facilities are likely to trim the gross margin by 1-2 percentage points in 2025. To be fair, the cost difference isn't as dramatic as some pundits suggested; one analysis indicates processing a 300mm wafer in Arizona is only about 10 percent more expensive than in Taiwan, largely because equipment costs-which are similar globally-make up over two-thirds of the wafer cost, while labor is less than 2 percent of the total cost. Still, the initial ramp-up is costly; for example, one report showed a profit decline in US operations from NT$4.232 billion to NT$41 million QoQ, tied to the buildout and introduction of advanced nodes like 3nm there. This pressure is leading to reported plans to increase prices for advanced nodes, such as a reported 10 percent hike for the 4nm manufacturing node.

Taiwan Semiconductor Manufacturing Company Limited (TSM) - Canvas Business Model: Revenue Streams

You want the hard numbers on how Taiwan Semiconductor Manufacturing Company Limited (TSM) is making its money as of late 2025. This is all about the flow of cash from their foundry services, and honestly, it's dominated by the most advanced silicon.

The core of the revenue stream is, without question, wafer fabrication sales from the leading-edge process nodes. By the third quarter of 2025, the advanced technologies, defined as 7-nanometer and below, represented 74% of total wafer revenue. The 3-nanometer-class production node was a major contributor, making up 23% of total wafer revenue in Q3 2025. The 5-nanometer generation, still a workhorse, accounted for 37% of wafer revenue in that same quarter. Looking back at Q1 2025, the 3nm node was at 22% and 5nm was at 36% of wafer revenue, with 7nm at 15%. The next frontier, N2 (2-nanometer), is on track for volume production in the second half of 2025, setting up the next revenue cycle.

Here's the quick math on how the process nodes stacked up in Q3 2025:

Process Node Generation	Q3 2025 Wafer Revenue Contribution
3nm-class	23%
N5-series	37%
N7 processes	14%
7nm and below (Advanced Tech)	74%

The platform driving this advanced node demand is High-Performance Computing (HPC) and Artificial Intelligence (AI) chips. For the first quarter of 2025, HPC-related revenue accounted for 59% of the company's total revenue, marking a 7% quarter-over-quarter increase. This aligns with reports that HPC-related revenue surged over 70% year-over-year in Q1 2025, making up nearly 60% of total sales. By Q3 2025, HPC products remained the leader, accounting for 57% of total wafer sales. Management is definitely leaning into this, forecasting that AI-focused chip revenue is expected to roughly double in 2025.

It's not all bleeding edge, though; specialty technology processes contribute, but at a lower margin. In Q3 2025, both the automotive and IoT segments each represented 5% of total wafer sales. This compares to Q1 2025, where IoT alone accounted for 5% of revenue, down 15% sequentially. Smartphone processors were the second-largest segment in Q3 2025 at 30%.

The revenue stream is also bolstered by advanced packaging and testing services, which are critical for AI accelerators. As of Q3 2025, advanced packaging now accounts for 10% of Taiwan Semiconductor Manufacturing Company Limited's total revenue. This is up from the 7% to 9% range reported earlier in the year. The company is aggressively expanding its CoWoS (Chip-on-Wafer-on-Substrate) capacity, aiming to quadruple it by the end of 2025. Furthermore, SoIC (System-on-Integrated-Chips) 3D stacking is scheduled to increase production capacity starting from the second half of 2025.

Overall, the full-year 2025 outlook is strong, though the exact figure varies slightly based on the reporting date. The consensus mark for the full-year 2025 revenues indicates year-over-year growth of 33.7%, pegged at approximately $120.47 billion. This reflects the company boosting its full-year guidance to the mid-30% range following a strong Q3 performance. You should note that the prompt's target of almost 35% growth is well within the range of management guidance and analyst consensus for the full year.

Here is a summary of the platform revenue contribution from Q3 2025:

Revenue Platform	Q3 2025 Share of Sales
HPC (includes AI)	57%
Smartphone processors	30%
Automotive	5%
IoT	5%

Finance: draft 13-week cash view by Friday.