History of TSMC in Timeline

By Popular Timelines Editorial Team · Updated: July 16, 2026

Taiwan Semiconductor Manufacturing Company (TSMC) is the world’s largest dedicated independent semiconductor foundry. Founded in 1987 by Morris Chang, it pioneered the foundry business model, where it manufactures chips for other companies—known as 'fabless' firms—rather than designing its own products. TSMC holds a dominant market position, producing the majority of the world’s most advanced microchips, including those used in smartphones, high-performance computing, and artificial intelligence hardware. Its technological leadership is defined by its mastery of leading-edge node processes, such as 3nm and 5nm technologies. Because of its central role in the global supply chain, TSMC is considered a critical pillar of the modern digital economy, making it a focal point of international geopolitical interest and industrial strategy. Headquartered in Hsinchu, Taiwan, the company maintains a vast manufacturing network, continuously investing billions in research, development, and global expansion to maintain its competitive edge in precision silicon manufacturing.

1986: Founding of TSMC

In 1986, the Taiwanese government, led by Li Kwoh-ting, recruited Morris Chang to spearhead the development of the nation's semiconductor industry. Following refusals from Intel and Texas Instruments, a joint venture was established between the Taiwanese government and Philips. The startup capital was sourced from the National Development Fund, Philips, eight major private Taiwanese conglomerates, and the Kuomintang's investment arm, laying the groundwork for TSMC's emergence in 1986.

1987: Establishment of TSMC

In 1987, Taiwan Semiconductor Manufacturing Company was founded by Morris Chang as a joint venture involving the Taiwanese government, the Industrial Technology Research Institute, and private investors to act as the world’s first dedicated semiconductor foundry.

1993: Taiwan Stock Exchange Listing

In 1993, TSMC reached a financial milestone by becoming a publicly listed company on the Taiwan Stock Exchange.

1994: Commencement of High Growth Period

Starting in 1994, TSMC entered a sustained period of growth, achieving a compound annual growth rate of 17.4 percent in revenue and 16.1 percent in earnings.

1997: New York Stock Exchange Listing

In 1997, TSMC achieved the status of being the first Taiwanese company to be listed on the New York Stock Exchange.

2000: Forbes Global 2000 Establishment Context

While the Forbes Global 2000 index began in the early 2000s, it serves as the benchmark for TSMC's standing in 2000 and beyond.

December 2010: Market Capitalization Value

In December 2010, TSMC's market capitalization reached a value of NT$1.9 trillion, which was equivalent to US$63.4 billion at that time.

2011: Trial production of A5 and A6 SoCs

In 2011, TSMC commenced trial production for the A5 SoC and A6 SoCs intended for Apple's iPad and iPhone product lines.

2011: Strategic Investment and Capacity Expansion

Throughout 2011, TSMC implemented a strategic growth plan, which included increasing research and development spending by nearly 39 percent to NT$50 billion to maintain competitiveness, while simultaneously expanding manufacturing capacity by 30 percent to address robust market demand.

2013: FT Global 500 Ranking

In 2013, TSMC was ranked as the 70th most highly valued company in the FT Global 500 list, reflecting a market capitalization of US$86.7 billion.

May 2014: Apple sources A8 and A8X SoCs from TSMC

As reported in May 2014, Apple selected TSMC to supply the A8 and A8X SoCs, establishing Apple as TSMC's most significant customer by the end of that year.

May 2014: Market Capitalization Growth

In May 2014, TSMC continued its financial growth, reaching a market capitalization of US$110 billion.

May 2014: Board Approval for Manufacturing Expansion

In May 2014, TSMC's board of directors authorized capital appropriations totaling US$568 million to enhance and expand their manufacturing capabilities, a decision prompted by a forecast of demand that exceeded previous expectations.

August 2014: Additional Capital Appropriation Approval

Following previous investment efforts, the TSMC board of directors approved further capital appropriations of US$3.05 billion in August 2014 to continue strengthening the company's operational infrastructure.

October 2014: ARM and TSMC 10 nm FinFET processor partnership

In October 2014, ARM and TSMC entered into a multi-year partnership focused on the development of ARM-based 10 nm FinFET processor technology.

March 2017: TSMC Nanjing Manufacturing Investment

In March 2017, TSMC proceeded with a US$3 billion investment to establish a manufacturing subsidiary in Nanjing, China, despite facing objections from the Tsai Ing-wen administration.

March 2017: Surpassing Intel in Market Value

In March 2017, TSMC's market capitalization hit NT$5.14 trillion (US$168.4 billion), marking the first time the company surpassed the semiconductor giant Intel in market value.

2018: Leadership Transition at TSMC

In 2018, founder Morris Chang retired after 31 years of leadership, leading to the appointment of Mark Liu as chairman and C. C. Wei as Chief Executive.

2019: Financial Baseline

In 2019, TSMC recorded a consolidated revenue of US$34.63 billion and a net income of US$11.18 billion, which served as the reference point for their 2020 growth figures.

June 2020: Top 10 Most Valuable Companies

On June 27, 2020, TSMC briefly ascended to become the world's 10th most valuable company, holding a market capitalization of US$410 billion.

July 2020: Halting Silicon Wafer Shipments to Huawei

In July 2020, TSMC officially confirmed that it would stop supplying silicon wafers to the Chinese telecommunications giant Huawei and its subsidiary, HiSilicon, effective September 14, 2020.

November 2020: Approval of Arizona Chip Plant

In November 2020, Phoenix city officials in the United States approved TSMC's $12 billion investment plan to construct a semiconductor fabrication plant, a decision influenced by U.S. government concerns regarding electronics manufacturing supply chains.

2020: TSMC 2020 Production Milestones and Technology Leadership

In 2020, TSMC reached a global capacity of thirteen million 300 mm-equivalent wafers per year while maintaining process node capabilities from 2 microns down to 3 nanometres. During 2020, the company solidified its market position by being the first foundry to commercialize ASML's extreme ultraviolet lithography technology at high volume and by manufacturing advanced chips for major clients using its leading 5-nanometre process.

2020: Semiconductor Price Increases Begin

Starting in 2020, as part of a global semiconductor shortage, TSMC raised prices for its mature processors by approximately 20 percent.

April 2021: Market Capitalization Milestone

In April 2021, TSMC achieved a significant financial milestone with its market capitalization surpassing US$550 billion.

June 2021: Taiwan authorizes vaccine procurement negotiations for TSMC and Foxconn

In June 2021, amid a public controversy regarding a COVID-19 vaccine shortage where only 10 percent of Taiwan's population was vaccinated, the government permitted TSMC and Foxconn to jointly negotiate the purchase of COVID-19 vaccines on behalf of the nation.

July 2021: TSMC and Foxconn finalize purchase agreement for BioNTech vaccines

In July 2021, Fosun Pharma announced that TSMC and Foxconn reached an agreement to purchase 10 million BioNTech COVID-19 vaccines from Germany, with each company committing $175 million to donate five million doses each to Taiwan's vaccination programme.

November 2021: Announcement of JASM Subsidiary

In November 2021, TSMC and Sony announced the formation of Japan Advanced Semiconductor Manufacturing (JASM) in Kumamoto, Japan, to produce 22- and 28-nanometre chips.

2021: Expansion Plans for Arizona Facility

During 2021, reports surfaced suggesting that TSMC's investment in the Arizona facility could significantly increase to approximately $35 billion, involving the construction of six total factories.

February 2022: Expansion of JASM Investment and Capabilities

In February 2022, TSMC, Sony Semiconductor Solutions, and Denso announced that Denso would acquire over a 10 percent equity stake in JASM with a US$0.35 billion investment. This partnership aims to address the global shortage of automotive chips, with TSMC upgrading the facility's production capabilities to include 12/16 nanometre FinFET process technology alongside the existing 22/28 nanometre plans, while increasing monthly capacity to 55,000 12-inch wafers.

July 2022: TSMC Records High Second Quarter Profit

In July 2022, TSMC reported a record-breaking second quarter with a 76.4 percent year-over-year increase in net income, driven by growth in automotive and data center sectors despite consumer market weaknesses.

2022: Commencement of JASM Fabrication Plant Construction

In 2022, construction officially began on the Japan Advanced Semiconductor Manufacturing (JASM) fabrication plant in Kumamoto, Japan.

2022: Taiwan Integrated Circuit Export Valuation

In 2022, the export of integrated circuits from Taiwan reached a total value of $184 billion, accounting for nearly 25 percent of the nation's GDP.

2023: Capital Expenditure Adjustments

In 2023, TSMC projected that portions of its capital expenditure budget would be deferred or pushed into this calendar year due to evolving market conditions.

2023: Continued Impact of Semiconductor Shortage

Through 2023, the ongoing global semiconductor shortage continued to influence market pricing, with TSMC maintaining higher costs for mature processor technologies.

February 2024: TSMC Share Price Record High

In February 2024, TSMC shares achieved a record trading high of NT$709, closing at NT$697, heavily influenced by positive market outlooks for Nvidia's chip designs.

October 2024: TSMC Reports Potential Export Control Breach

In October 2024, TSMC formally notified the United States Department of Commerce regarding a potential violation of export control regulations. This incident involved the discovery that one of their high-end, advanced chips had been diverted to Huawei through a third-party intermediary linked to the Chinese government.

2024: Production Start at JASM Facility

In 2024, the JASM fabrication facility in Japan successfully commenced production of semiconductor components.

June 2025: Establishment of the TSMC-UTokyo Lab

In June 2025, TSMC officially announced the creation of the TSMC-UTokyo Lab, representing the company's inaugural joint research facility established in partnership with an international university.

August 2025: Trade Secret Theft Investigation

In August 2025, TSMC revealed that eight individuals—consisting of two active and six former employees—were implicated in the illegal acquisition of proprietary trade secrets pertaining to the company's advanced 2nm process technology, leading to arrests by Taiwanese authorities.

2025: Upcoming 2-Nanometre Mass Production

As of the plans discussed in early 2024, TSMC intends to initiate mass production for its 2-nanometre chip technology in 2025.

2025: Forbes Global 2000 Ranking

In 2025, TSMC achieved a significant corporate milestone by being ranked 38th in the Forbes Global 2000 list.

January 2026: TSMC Reports Record Q4 Profit Growth

In January 2026, TSMC announced a 35% increase in its fourth-quarter profit, surpassing market estimates and reaching a new record high driven by the sustained demand for artificial intelligence chips.