Is TSM the ultimate long-term winner?

Summary

• The post argues that TSM is a monopoly bottleneck in AI chip manufacturing, making it indispensable regardless of which AI chip designer (AMD, NVDA) or memory maker wins.
• The author believes TSM is undervalued due to its Taiwan location, but sees its Arizona expansion as mitigating geopolitical risk, positioning it as the ultimate long-term AI winner.
• Quality assessment: Speculation with a clear directional thesis but lacking quantitative data or rigorous DD; more of a conviction-based opinion than deep research.