Foundry · Advanced packaging (CoWoS)

TSMC

The world's largest semiconductor foundry. FY2025 revenue about NT$3.78T (HPC 58%). Makes chips for fabless designers such as NVIDIA, AMD and Apple, and packages HBM with CoWoS. Buys equipment from ASML (EUV) and others.

TSM Updated Jun 21, 2026 2 AI consumers· 1 recurring

Financials & Segments

Total revenue · about NT$3.78T (FY2025)
Customer concentration · Largest customer NVIDIA 19%, second Apple 17% (2025). Top 10 customers are 78%
Segments · HPC(58%) · Smartphone(29%) · Automotive(5%) · Other(8%)

Revenue from

NVIDIA High confidence· Revenue share 19% · 2025 · share of TSMC revenue (NT$726.9B/$23.2B)
TSMC's largest customer (2025). AI accelerator wafers plus CoWoS packaging. NT$726.9B ($23.2B), 19% of revenue, overtaking Apple.
Confirms EN SEC EDGAR Published Apr 16, 2026: "TSMC 20-F: largest customer accounted for 19% of 2025 net revenue (second 17%)."
Confirms EN CNBC Published Jan 26, 2026: "NVIDIA overtook Apple as TSMC's largest customer, 19% of 2025 revenue (NT$726.9B/$23.2B), up from 12%."
Confirms KO Bloter Published Jan 23, 2026: "NVIDIA reached about $23.4B, 19% of TSMC revenue, overtaking Apple (17%) as the largest customer, up from 12%. TSMC total revenue about $122.4B (+31.6%)."
Apple High confidence· Revenue share 17% · 2025 · share of TSMC revenue (NT$645.1B)
Long-time top customer, now second (2025). Mobile APs. NT$645.1B, 17% of revenue (down from 22%).
Mentions EN SEC EDGAR Published Apr 16, 2026: "TSMC 20-F: second largest customer accounted for 17% of 2025 net revenue."
Confirms EN DigiTimes Published Jan 22, 2026: "Apple fell to second at 17% of revenue (NT$645.1B), down from 22%."
Marvell High confidence
Foundry for Marvell's custom AI chips (N2) and CoWoS packaging.
Confirms EN SEC EDGAR Published Mar 11, 2026: "Marvell 10-K: reservation arrangements with foundries and substrate partners, uses advanced packaging like CoWoS."
Mentions KO ZDNet Korea Published Jun 18, 2025: "Marvell's custom chips on a 2nm node (TSMC)."
Astera Labs High confidence
Sole foundry for all of Astera's ICs (fabless).
Confirms EN SEC EDGAR Published Feb 10, 2026: "Astera 10-K: TSMC is the sole manufacturing partner for our ICs (no alternative qualified yet)."
Amazon High confidence
Foundry fabricating Amazon’s own Trainium (2/3) AI chips on 5nm/3nm.
Confirms KO Global Economic Published Dec 3, 2025: "Trainium3 is built on TSMC’s advanced node."
Qualcomm High confidence
Supplies leading-edge foundry to Qualcomm.
Confirms KO Korea Economic Daily Published Jan 7, 2026: "Samsung in talks for 2nm foundry."
Confirms EN TrendForce Published Mar 26, 2025: "Leading-edge Snapdragon volume moved to TSMC."
Confirms EN SEC EDGAR Published Nov 6, 2024: "10-K: QCT chipsets and QTL licensing."
AMD Medium confidence
Foundry for HPC and AI accelerators (MI series).
Mentions EN CNBC Published Jan 26, 2026: "HPC customers such as AMD drove TSMC's revenue growth."
Broadcom Medium confidence
Foundry for custom AI ASICs.
Mentions EN CNBC Published Jan 26, 2026: "Custom AI chip customers such as Broadcom."
Intel Medium confidence
Manufactures some of Intel's chip tiles.
Confirms EN SEC EDGAR Published Jan 23, 2026: "Intel 10-K: incorporates external foundries (including TSMC) into its products."
Meta Platforms Medium confidence
Foundry fabricating Meta’s own MTIA AI chips on 5nm.
Confirms EN Tom's Hardware Accessed Jun 20, 2026: "MTIA v2 is produced on TSMC 5nm."
Microsoft Medium confidence
Foundry fabricating Microsoft’s own Maia AI chips (Maia 100/200) on N5 with CoWoS-S.
Confirms EN ServeTheHome Published Aug 26, 2024: "Maia 100 is a "TSMC 5nm part" using "TSMC CoWoS-S" packaging."
Alphabet (Google) Medium confidence
Foundry fabricating Google’s own TPU AI chips (Ironwood) on N3P.
Confirms EN TrendForce Published Nov 7, 2025: "Ironwood is built on a TSMC process with 192GB of HBM3E."

Pays to

ASML High confidence
Key supplier of EUV lithography tools. TSMC is the biggest EUV buyer; ASML is the sole EUV source.
Confirms EN SEC EDGAR Published Apr 16, 2026: "TSMC 20-F: as a major purchaser of fabrication equipment, managing equipment-supplier relationships is important."
KLA High confidence
Buys KLA defect-inspection and metrology tools.
Confirms KO Blockmedia Accessed Jun 20, 2026: "TSMC is a key KLA customer."
HPSP High confidence
Buys high-pressure hydrogen annealing tools from HPSP (sole supplier).
Confirms KO Korea Economic Daily Published Jul 13, 2025: "TSMC adopts HPSP high-pressure annealing tools."
Tokyo Electron (TEL) High confidence
Buys coater, etch, deposition and clean tools from Tokyo Electron.
Confirms KO Sisa Journal e Accessed Jun 21, 2026: "TSMC adopts TEL wafer-fab tools."
Shin-Etsu Chemical High confidence
Buys 300mm silicon wafers from Shin-Etsu Chemical under LTA.
Confirms KO ICN Magazine Published Jan 15, 2026: "TSMC depends on Shin-Etsu Chemical for wafer supply."
SUMCO Corporation High confidence
Buys 300mm silicon wafers from SUMCO Corporation under LTA.
Confirms KO ICN Magazine Published Jan 15, 2026: "TSMC depends on SUMCO Corporation for wafer supply."
GlobalWafers High confidence
Uses/buys 300mm silicon wafers from GlobalWafers.
Confirms EN GlobalWafers Published Mar 1, 2025: "IR: silicon-wafer revenue and customers."
Confirms EN Mordor Intelligence Published Jan 1, 2025: "Top-five 300mm oligopoly; GlobalWafers ~15%."
Confirms KO THE ELEC Published Jun 1, 2024: "Supplies wafers to TSMC, UMC, Samsung."
Advantest High confidence
Buys test equipment (ATE) from Advantest.
Confirms KO AlphaBiz Published Sep 1, 2025: "Dominant HBM tester tech; SK hynix and others."
Confirms EN Advantest Published Jun 1, 2025: "Annual report: ATE revenue and customers."
Confirms EN Mordor Intelligence Published Jan 1, 2025: "No.1 in test equipment at ~58%."
Applied Materials Medium confidence
Deposition, etch and other front-end tools.
Mentions EN SEC EDGAR Published Apr 16, 2026: "TSMC 20-F: a major purchaser of semiconductor fabrication equipment."
Confirms EN PatentPC Accessed Jun 20, 2026: "TSMC is a key Applied Materials customer."
Lam Research Medium confidence
Etch and deposition tools.
Mentions EN SEC EDGAR Published Apr 16, 2026: "TSMC 20-F: a major purchaser of semiconductor fabrication equipment."
Confirms EN SEC EDGAR Published Aug 11, 2025: "10-K names TSMC among its key customers."
BESI Medium confidence
Buys hybrid-bonding and die-attach tools from BESI (advanced packaging).
Confirms EN Yole Group Published Aug 1, 2025: "TSMC adopts BESI hybrid-bonding tools."
Synopsys Medium confidence
Uses/buys EDA tools and IP from Synopsys.
Confirms KO Seoul Economic Daily Published Jul 1, 2025: "Samsung and others use Synopsys EDA."
Confirms EN SEC EDGAR Published Dec 18, 2024: "10-K: EDA tools/IP revenue and major chip customers."
Confirms EN SemiAnalysis Published Jun 1, 2024: "Synopsys leads EDA at ~31%."
Cadence Design Systems Medium confidence
Uses/buys EDA tools and IP from Cadence Design Systems.
Confirms KO Seoul Economic Daily Published Mar 1, 2025: "Cadence grows on AI-chip design."
Confirms EN SEC EDGAR Published Feb 24, 2025: "10-K: EDA tools/IP revenue."
Confirms EN SemiAnalysis Published Jun 1, 2024: "Cadence is No.2 in EDA at ~30%."
Teradyne Medium confidence
Buys test equipment (ATE) from Teradyne.
Confirms KO Korea Economic Daily Published Feb 24, 2026: "Teradyne surges on the chip upturn."
Confirms EN SEC EDGAR Published Feb 26, 2025: "10-K: semiconductor-test revenue."
Confirms EN Teradyne Published Jan 1, 2025: "Memory, SoC and computing test."

Value-chain ripple (tiers 2–3)

Following node-to-node links up to 3 tiers; each firm is shown once, at its nearest tier.

Leading firms (revenue chain)

T1 Apple, NVIDIA, AMD, Broadcom, Intel, Meta Platforms, Marvell, Astera Labs, Amazon, Qualcomm, Microsoft, Alphabet (Google)
T2 Arista Networks

Beneficiaries (payment chain)

T1 ASML, Applied Materials, Lam Research, KLA, BESI, HPSP, Tokyo Electron (TEL), Shin-Etsu Chemical, SUMCO Corporation, Synopsys, Cadence Design Systems, GlobalWafers, Teradyne, Advantest

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