Theme · AI Compute

TSMC 2Q26: The Capex Raise Is the Real Signal

Margins were close to expectations, but capex and third-quarter guidance moved sharply higher. The bigger signal is stronger AI demand visibility—and TSMC's willingness to add capacity.

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TSMC wafers, advanced nodes, and capex research
Theme

Latest Research

AI hardware, memory, and market deleveraging

Memory Selloff: Why Deleveraging May Not Be Over

ADR liquidity, quant unwinds, and tighter Korean rules point to where the selloff stands—and what to watch next.

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Meta AI infrastructure and semiconductor supply chain

Five Signals Reframe the AI Compute Story

Meta's expansion, long-term accelerator commitments, and foundry capex reinforce demand and clarify the U.S.-listed beneficiaries.

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Memory supercycle research

The Memory Supercycle Across Global Markets

Rising investment, higher memory prices, and the HBM upgrade cycle are shifting the story from a cyclical rebound to capacity-driven earnings.

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U.S. pharma triple-gate repricing

Three Forces Repricing U.S. Pharma

When regulation, dealmaking, and payer coverage shift together, the sector can move beyond isolated catalysts to a broader repricing.

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