At the company's annual shareholder meeting held on June 4th, Taiwan Semiconductor Manufacturing (TSM) Chairman and CEO C.C. Wei stated that the momentum behind artificial intelligence (AI) development remains robust. The company's confidence in the long-term growth trend of AI is unwavering, and it views semiconductor demand as structural and fundamental.

Driven by sustained AI demand for advanced process nodes and high-performance computing (HPC) chips, Taiwan Semiconductor Manufacturing achieved record revenue and profit in 2025. Total revenue reached NT$3.8 trillion (approximately RMB 820 billion), a year-on-year increase of 31.6%. Gross margin was 59.9%, up 3.8 percentage points. Net profit attributable to the parent company was NT$1.72 trillion (approximately RMB 370 billion), with earnings per share of NT$66.25. The company's stock price also doubled, delivering substantial returns for investors.

Wei expressed gratitude for shareholders' consistent support, noting that TSM's stock performance over the past year has been remarkable, rising from NT$950 at last year's meeting to NT$2425 yesterday, a growth of over 150%. The company's growth is shared with shareholders, with this year's dividend expected to be at least NT$24, representing growth of over 30%. He also stated his confidence that Taiwan Semiconductor Manufacturing will continue to outperform the industry.

A shareholder mentioned that a friend, who believed in Wei's leadership last year, had indeed bought a new house as TSM stock gains covered the down payment. While not buying a house themselves last year, the shareholder continued to purchase Taiwan Semiconductor Manufacturing shares. In response, Wei said that if one is considering buying stock, they should continue to do so. The company anticipates the growth trend will persist for the coming years, with no indicators currently pointing to a stagnation in growth.

He elaborated further, stating that AI development is gradually progressing from Generative AI towards an Agentic AI phase. While large language models have primarily focused on Q&A and content generation, the future will see a shift towards Agentic AI capable of planning, decision-making, and execution. Such applications require models to process more data and perform more tasks, leading to a significant increase in Token consumption and a continued rise in overall computational demand.

Wei pointed out that both TSM's clients and their clients maintain a highly optimistic outlook on the AI industry's prospects. As AI model scales continue to expand, inference demand grows rapidly, and nations actively invest in sovereign AI infrastructure, demand for advanced logic chips and HPC chips will keep increasing. This is expected to be a key driver supporting semiconductor industry growth for several years.

Regarding its technology portfolio, Taiwan Semiconductor Manufacturing's revenue from advanced process nodes (7-nanometer and below) accounted for 74% of total wafer sales in 2025, up from 69% the previous year, setting another record. Throughout the year, it offered 305 process technologies, served 534 customers, and produced over 12,000 different products, demonstrating that its advanced process platforms have become a crucial foundation for the global AI and HPC industries.

In response to rapidly growing market demand, Wei stated that TSM's most important mission is to continue providing the world's most advanced process technology and sufficient capacity to support customer innovation. The company will continue investing in R&D and capital expenditures, and through close collaboration with customers and end markets, plan its capacity expansion based on long-term demand trends.

Addressing global expansion, he noted that the expansion of manufacturing sites worldwide considers market demand and also responds to customer requirements for supply chain resilience and geopolitical flexibility. With a certain level of government support, Taiwan Semiconductor Manufacturing will continue to advance its global manufacturing footprint to balance customer needs with maximizing shareholder value.

Shareholders also raised questions regarding pricing, urging the company to be bold with price increases. In response, Wei stated the company would continue its efforts. He added, "The company must reflect its value. Is it reflected for the customer? We view our customers as partners. Of course, making a profit is important," and cautioned, "We shouldn't suddenly act like memory companies (with sharp price spikes), which isn't sustainable. We are in this for the long term."

Looking ahead to this year's operations, Wei acknowledged that the global economy still faces uncertainties such as inflation, rising component costs, and geopolitics, with developments in the Middle East potentially impacting the global economy. However, leveraging its technology leadership, superior manufacturing capability, and broad customer base, TSM remains deeply confident in its future growth. It anticipates that the structural demand driven by the AI wave will continue to propel its operational performance above the industry average, forecasting a year-on-year increase in US dollar revenue exceeding 30%.