TSMC AI Revenue Surge and Capacity Expansion

TSMC's AI/HPC revenue now 66% of total, with July revenue up 44.7% YoY to a record $14.49B. 2nm ramp at 20k wpm targeting 100k by end-2026. Capex raised to $64B with $100B planned for Arizona. Sony JV in Kumamoto approved ($6.3B, production by 2029) as strategic move against China's CIS ecosystem. Google's Tensor G6 confirmed on N3P, not 2nm, reinforcing 3nm node as key revenue driver for non-Apple customers. Smartphone cost squeeze highlights TSMC's pricing power. Advanced packaging capacity doubling annually for three years confirms aggressive CoWoS expansion.