Christine Phillpotts

"The chips powering AI are being manufactured by TSM. Even before the geopolitical debate, it was about downstream of AI... all of those downstream players require the products that the companies we have invested in provide." While software and downstream AI applications face intense competition and uncertain monetization, the foundational hardware manufacturers hold a sustainable monopoly. They profit regardless of which tech giant wins the AI software war. LONG. TSM is the ultimate "picks and shovels" play for the AI revolution, boasting an insurmountable moat in advanced semiconductor fabrication. Escalating geopolitical tensions between China and Taiwan could severely disrupt operations or trigger a massive risk-off selloff in the stock.