How TSMC Became the World's Most Important Company Without Anyone Knowing

TSMC manufactures 90%+ of the world's most advanced chips for Apple, NVIDIA, AMD, Qualcomm. $100B+ annual revenue from a single business model: contract chip manufacturing. Founded 1987 by Morris Chang. Never designs its own chips — only manufactures others' designs. This neutrality makes it trusted by competitors. The company's Taiwan location is both its strength (concentrated ecosystem) and vulnerability (geopolitical risk). TSMC's $40B Arizona fab is the most expensive factory in history.