TSMC

TSMC beat the top of its own guidance by nearly a billion dollars, and says demand is still far above what it can supply

Two-nanometer parts reached 8% of wafer revenue in the quarter. Chief executive C.C. Wei told analysts the company is working very hard to narrow the gap between demand and capacity.

ASML says its planned output for 2027 and 2028 will not meet demand, and customers are already asking about 2030

The only company that builds EUV lithography machines is now the clearest ceiling on how fast AI chip capacity can grow. Half a billion euros of its quarterly profit came from revaluing a stake in Mistral AI.

Microsoft's third in-house AI chip carries 288GB of memory, and 96 of them share one 167kW rack

The accelerator is built only for inference, and every performance number Microsoft gave is measured against its own previous generation.

TSMC's revenue is up 55% on a year ago and slightly down on last month, which is what a supply ceiling looks like

The year-on-year number is the AI build-out. The month-on-month number is the more useful one, because it has barely moved since August.

TSMC is paying a rival $2bn to make the silicon slabs its AI packaging sits on, and none of it ships before 2028

The part of an AI accelerator that limits how many can be built is not the logic die. It is the packaging underneath — and TSMC has just bought a second source for it.

A four-year-old chip startup is weighing offers at roughly double the valuation it took two months ago

Etched builds inference systems on its own chips. Its valuation has gone from $10.3bn to a reported $40bn in about three months.