$Advanced Micro Devices(AMD)$
AAPL's deep pockets significantly fund new nodes at TSMC. First chips from a new node at TSMC are usually for the iPhone. Mobile chips are less demanding than CPUs and GPUs running in servers. So those mobile chips are great for initial production on a new node. Cutting edge node helps AAPL sell trendy iPhones. When everything is running smoothly TSMC can then refine the node further for higher power and performance needed by server chips.
Volume of chips sold to AMD has a pretty long tail. This helps TSMC amortize the development expense of the node and get a better return on investment. AMD benefits from the reliability of the established node and lower cost.
For TSMC. AAPL, and AMD it's win, win, win.
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