$Taiwan Semiconductor Manufacturing(TSM)$ 

Revisiting an old article (link below 👇)

https://www.eastasiaforum.org/2021/08/06/the-united-states-is-determined-to-dominate-the-semiconductor-tech-war/

The CHIPS Act has been passed, and we see interest in semiconductor companies, particularly US ones. However, we neglect that the Act is focused on manufacturing facilities. So who's the biggest beneficiary of this?

Dependency on TSM

Today, both Nvidia and AMD are heavily reliant on TSM. Intel has their own, but their technology isn't advanced enough to produce AMD chips, so we'll still see this reliance continue forAMD. For Nvidia, even if they partner with Intel, ramping up both the facilities and the skill set of the US-based workers will take time, and they're both companies fighting against falling demands, so there'll be a lot of pressure there that the CHIPS Act can't allay. 

What I think we can expect instead is TSM bringing more of their operations into US.

Who else benefits?

Other than Intel, I'm actually more bullish for $GLOBALFOUNDRIES Inc.(GFS)$ and $ON Semiconductor(ON)$ Both already have their foundries in US, and will directly benefit from the introduction of CHIPS Act. 

[TLDR] NVDA Q2 looks bad, don't bet on themrecovering anywhere near previous levels. Also, TSM still looks like a good long-term investment.

The above are my personal opinion and do notconstitute as financial advice. Please ensure due diligence before making any decision [Victory]