$Taiwan Semiconductor Manufacturing(TSM)$
TSM is an investment in AI infrastructure (making chips for $NVIDIA Corp(NVDA)$ , $Advanced Micro Devices(AMD)$ , $Apple(AAPL)$ , and soon $Intel(INTC)$ ).
The company has geopolitical risk, with 90% chips made in Taiwan, 5% in China, and 5% in the rest of the world.
Today the co
mpany announced plans for a second fab in Japan.
While it's a baby step, collectively I estimate in 10 years 50% of TSMC's production will be in the West.
This diversification should attract more Western investors to the story and be a positive to TSMC's multiple. Deepwater owns TSM.
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