TSMC and ASML are two of the most important companies in the semiconductor value chain.

Taiwan Semiconductor Manufacturing Company delivered a clean Q2 beat, surpassing revenue and margin guidance, and raised its full-year outlook. The market had the June number three days early and sold anyway.

Taiwan Semiconductor Manufacturing Company (TSMC) beat Wall Street expectations on Thursday with a record second-quarter net profit, up 77% from a year earlier, while pledging a further $100bn (€87.4bn) to expand its chipmaking capacity in the US.

TSMC's earnings announcement should light a fire in the AI investment theme.

Semiconductor stocks are getting crushed, but not every name in the space deserves the same fate. One chipmaker sits at such a critical chokepoint in the AI buildout that the entire sector rises or falls with it.

For years, Intel Corp‘s INTC rivalry with Taiwan Semiconductor Manufacturing Company Ltd. TSM centered on manufacturing technology, process nodes and production scale. Former Intel CEO Pat Gelsinger believes investors may be overlooking another competitive advantage entirely: geography.

The company also announced plans to expand its fab complex in Arizona. TSMC intends to build at least four additional facilities at a cost of $100 billion, which will bring its total investment in the site to $265 billion.

Janus Henderson Investors, an investment management company, released its second-quarter 2026 investor letter for the “Global Sustainable Equity Fund”. A copy of the letter can be downloaded here. Global equities experienced a robust quarter,

L1 Capital, an investment management firm, released its “L1 Capital International Fund” (unhedged) second-quarter 2026 investor letter. A copy of the letter can be downloaded here.

Taiwan Semiconductor Manufacturing Company just finished the sort of quarter most AI-linked companies would like to report. Learn why TSM stock is a buy.