Taiwan Semiconductor Manufacturing

TSM, Taiwan Semiconductor Manufacturing, the contract chipmaker that builds chips other companies design, among them Nvidia, Apple and Qualcomm, selling none of its own and charging per wafer, the newest nodes priced highest. Morris Chang founded it in 1987 to commercialise research from Taiwan's Industrial Technology Research Institute, with the government putting up close to half the capital. TSM on Robinhood Chain is a Robinhood Stock Token, a tokenised debt security issued by Robinhood Assets (Jersey) Limited and backed by Taiwan Semiconductor shares held in custody at Alpaca Securities.