Metropolis Capital Ltd Sells 184,630 Shares of Taiwan Semiconductor Manufacturing Company Ltd. $TSM - MarketBeat

In Q2 2026, Metropolis Capital Ltd reduced its stake in Taiwan Semiconductor Manufacturing Company (TSMC) by 34.9%, selling 184,630 shares, leaving it with 345,102 shares valued at approximately $116.... Read original →

Metropolis Capital’s partial exit from TSMC reflects profit-taking amid elevated valuations, yet broader institutional conviction remains intact. Technologically, TSMC’s lead in 2nm and A16 nodes cements its indispensability in the AI chip foundry stack, compelling NVIDIA and AMD to pre-commit capacity and raising barriers for smaller fabless firms. Geopolitical compliance costs are mounting: U.S. CHIPS Act ‘guardrails’ inflate Arizona fab operating expenses by 15–20% and delay local supply chain maturation. Samsung and Intel, despite aggressive investments, trail by 12–18 months in yield and HBM integration, leaving TSMC’s pricing power unchallenged short-term. Over the next 12–24 months, as AI training chips shift toward CoWoS-R packaging, TSMC will capture premium margins—yet faces latent risk from tighter U.S.-led export controls on EUV tools that could disrupt advanced-node ramp timelines.