Written edition
TSMC now builds the memory base dies for Micron, Samsung, and SK Hynix
Today's stories share a quiet theme: control points are consolidating.
TSMC becomes the choke point for all AI memory, identity becomes the choke point for payments, and everyone else is left negotiating around a small number of gatekeepers.
TSMC becomes the single point of dependency for AI memory
Micron has confirmed that TSMC will manufacture the base dies for its next-generation high-bandwidth memory, the ultra-fast memory stacked directly on top of AI chips. That closes the loop: Micron, Samsung, and SK Hynix, the world's three major memory makers, are now all reliant on TSMC's advanced packaging and manufacturing to build their most important product. The industry has moved to a chiplet approach, where memory is built from separate stacked pieces rather than one chip, and TSMC is the only company that can reliably make the base layer at scale. That means one company effectively sets the ceiling on how much AI computing capacity the entire world can produce, and none of its customers can build around it.
