- TSMC becomes the first Asian company to surpass a $1 trillion market cap, momentarily outvaluing Berkshire Hathaway
- TSMC supplies chips to tech giants like Apple, AMD, Intel, Nvidia, and Qualcomm, with Apple being its largest customer
- TSMC’s semiconductors dominate the crypto mining sector, powering the majority of mining rigs, including Bitmain’s Antminer
The company is now worth more than Broadcom and could soon unseat Meta (formerly Facebook).
Taiwan Semiconductor Manufacturing Company Limited, or TSMC as it’s more commonly known, became the first Asian company to reach a market capitalisation of more than $1 trillion. It briefly overtook Berkshire Hathaway to become the eighth most valuable company in the world.
Apple, AMD, Intel, Nvidia, Qualcomm: All Rely on TSMC
TSMC is the biggest semiconductor manufacturer in the world. Its customers include big names like Apple, AMD, Intel, Nvidia, and Qualcomm. So far, Apple is TSMC’s biggest customer. The Cupertino-based company accounts for about a fifth of TSMC’s revenue, as it uses TSMC’s chips to manufacture iPhones.
Even Intel, a competitor in the semiconductor manufacturing market, has recently started using TSMC to make some of its chips.
TSMC also has a firm grip on the cryptocurrency mining industry. Its semiconductors are used in most mining devices, including Bitmain’s popular Antminer rigs. In China, 98% of Bitcoin mining rigs are manufactured by Bitmain and equipped with TSMC semiconductors.
At the time of writing, TSMC has retreated from its all-time high of over $1 trillion to a more modest market capitalization of $859.69 billion. This puts it back behind Berkshire Hathaway: it is currently ranked ninth in the world, ahead of Eli Lilly and Tesla.
Assuming the artificial intelligence sector continues to grow and the company continues to meet demand for new chips, TSMC could become the first Asian company to oust Meta (formerly Facebook) and officially enter among the world’s most valuable Big Tech companies.
Impact on the Crypto Market
TSMC is a big player in the semiconductor market, and that has a big impact on the cryptocurrency market. Most of the mining rigs out there, including those from the likes of Bitmain, use chips made by TSMC. So, TSMC is pretty important to the infrastructure of Bitcoin and other cryptocurrencies.
As TSMC keeps on innovating and growing, its new tech could make mining hardware more efficient and perform better. This could have an impact on the economics and operations of the crypto industry.
On top of that, TSMC’s reputation and financial security might encourage further investment and development in crypto technologies, strengthening its position as a major player in both the traditional and digital asset sectors.
