The ongoing AI boom is generating unprecedented momentum for Taiwan Semiconductor Manufacturing Company (TSMC), the world’s leading chip foundry.

Drury highlights that TSMC’s pivotal role in producing cutting-edge AI chips—particularly for industry giants like NVIDIA, Apple, AMD, and Qualcomm—positions it at the heart of the AI revolution. As AI workloads expand, the demand for high-performance, energy-efficient chips manufactured at leading-edge nodes (such as 3nm and 2nm)​ is skyrocketing, and TSMC remains the dominant player in this space.

While Apple’s massive valuation is supported by its diverse revenue streams, including iPhones, services, and wearables, its growth trajectory is increasingly tied to AI integration in its ecosystem. However, TSMC’s exposure to the broader AI chip market—supplying not just Apple but also NVIDIA (whose GPUs power AI data centers) and emerging AI hardware startups—gives it a broader and potentially faster-growing revenue base.

Drury argues that if AI adoption continues accelerating, driving up demand for TSMC’s most advanced manufacturing nodes, the company could see exponential revenue and profit growth. Additionally, TSMC’s expansion into next-generation packaging technologies (like CoWoS) and its plans to build more fabs in the U.S. and Japan​ could further solidify its dominance.

While overtaking Apple is not guaranteed, the possibility remains plausible if AI-driven semiconductor demand keeps TSMC’s growth trajectory ahead of Apple’s. For now, Apple remains the world’s most valuable company, but TSMC’s critical role in the AI supply chain could make it the next trillion-dollar giant—or even the most valuable tech stock by the end of the decade.