TSMC posted April-June revenue of $40.2 billion and net profit of NT$706.6 billion, both exceeding analyst estimates and prior-year results. The company raised its 2026 revenue growth forecast to slightly above 40 percent and announced an additional $100 billion investment in U.S. production facilities.
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“TSMC posts record profit and pledges $100bn to expand US manufacturing”
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Record results and the $100 billion U.S. expansion reflect AI-driven profits that largely accrue to shareholders while relying on public subsidies without strong labor or community conditions.
“Public resources channeled into private gains; need for worker protections and equitable distribution”
Strong earnings and the U.S. investment demonstrate private-sector innovation and voluntary reshoring that enhance national security and reduce foreign dependencies.
“Market signals and corporate decisions over subsidies or central planning”
Profit growth and the additional U.S. facilities illustrate voluntary capital allocation responding to genuine AI demand rather than government direction.
“Market prices directing resources more effectively than political allocation”
All three views treat the U.S. investment as primarily market- or resilience-driven while downplaying export controls, subsidy conditionality, and the incremental loss of Taiwan's strategic leverage.
“Compelled diversification and opaque pricing power rather than pure innovation validation”
Ratings by MBFC