Silicon wafers made by Taiwan Semiconductor Manufacturing Co. at the company's headquarters in Hsinchu, Taiwan.
Maurice Tsai—Bloomberg/Getty Images

Taiwan Semiconductor Manufacturing Company (TSMC) is the world’s leading supplier of custom chips for laptops, smartphones and countless other devices produced by Apple, Huawei, Sony and more. Video gaming, live-streaming and 5G hinge on the connectivity and processing speeds TSMC provides. This year, its services became more essential than ever after the Trump Administration restricted U.S. companies from selling technology to China’s biggest chipmaker, inadvertently increasing demand for TSMC. The firm reported net income of $5.01 billion in the last quarter of 2020, up 23% year on year.

Correction, April 28

The original version of this story misstated the company’s name. It is Taiwan Semiconductor Manufacturing Company, not Taiwan Semiconductor Manufacturing Corp.

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