{"id":29843,"date":"2026-01-05T23:56:00","date_gmt":"2026-01-05T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/us\/?p=29843"},"modified":"2026-04-05T10:20:53","modified_gmt":"2026-04-05T02:20:53","slug":"morris-chang-found-tsmc","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/","title":{"rendered":"The role Morris Chang play during TSMC establishment?"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Special_Notes\" >Special Notes<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Chang_assisted_but_not_establish\" >Chang assisted but not establish<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#TSMCs_founder_is_Taiwanese_government\" >TSMC&#8217;s founder is Taiwanese government<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Morris_Chang_resume\" >Morris Chang resume<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Birth_growth_and_schooling\" >Birth, growth and schooling<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Career_experience\" >Career experience<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Come_to_Taiwan\" >Come to Taiwan<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#The_founding_of_TSMC\" >The founding of TSMC<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Morris_Changs_career_at_TSMC\" >Morris Chang\u2019s career at TSMC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Persuaded_by_Li_Kwoh-ting\" >Persuaded by Li Kwoh-ting<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Where_did_TSMCs_fund_come_from\" >Where did TSMC\u2019s fund come from?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#TSMCs_original_shareholders\" >TSMC&#8217;s original shareholders<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Key_customers\" >Key customers<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Win_Apple\" >Win Apple<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Nvidia\" >Nvidia<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Some_important_views_of_Morris_Chang\" >Some important views of Morris Chang<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Mainland_China\" >Mainland China<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#USA\" >USA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Government\" >Government<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/#Related_articles\" >Related articles<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Special_Notes\"><\/span>Special Notes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Chang_assisted_but_not_establish\"><\/span>Chang <strong><em>assisted but not establish<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>You are advised to read &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/06\/tsmc-originally-founded\/\">How was TSMC originally founded? Not by Morris Chang<\/a>&#8221; before move next.<\/p>\n\n\n\n<p>Please note: <strong><em>I used the words &#8220;assisted the leadership in establishing&#8221; TSMC, not &#8220;founded&#8221; it<\/em><\/strong>. TSMC was actually founded by the Taiwanese government in the 1970s and 1980s, as well as several very visionary economic bureaucrats who came up with the idea. Morris Chang was just a professional brought back from abroad by the Taiwan government to implement this plan.<\/p>\n\n\n\n<p>For Morris Chang&#8217;s important advocates, please see my post of &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/12\/28\/morris-changs-controversial\/\">TSMC Morris Chang&#8217;s controversial words and deeds<\/a>&#8220;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"TSMCs_founder_is_Taiwanese_government\"><\/span>TSMC&#8217;s founder is Taiwanese government<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p id=\"block-897127f9-880d-41a2-9404-2e1938d0e7fa\">The founder of TSMC is not Morris Chang. The real founder of TSMC should be the Taiwanese government from the 1970s to the 1980s, and several very visionary economic bureaucrats who came up with the idea. You are highly recommended to see my post of &#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/09\/22\/chang-refuted-by-yeh\/\">Morris Chang refuted by Yeh Wanan, Taiwan was unwilling to invest in TSMC<\/a>&#8221; Ye Wanan is one of the main staff members who are still alive and are very far-sighted economic bureaucrats who worked there back then.<\/p>\n\n\n\n<p id=\"block-1059827a-dacb-4fdc-b0a3-b0536c67fb38\"><strong><em>Morris Chang was just a professional brought back from abroad by the Taiwanese government at the time to implement this plan. He was not the founder of TSMC. Don&#8217;t just follow the crowd. There is only one historical truth.<\/em><\/strong><\/p>\n\n\n\n<p id=\"block-84fe6032-eaf7-412f-b9a6-5044b1b1c4a3\"><strong><em>Stop spreading rumors! even everybody say so.<\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Morris_Chang_resume\"><\/span>Morris Chang resume<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Birth_growth_and_schooling\"><\/span>Birth, growth and schooling<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Morris Chang is the founder of TSMC. He was born in Ningbo, Zhejiang Province, China. He grew up in mainland China and Hong Kong as a child. He graduated from MIT with a bachelor&#8217;s degree in mechanical engineering in 1952 and a master&#8217;s degree in 1953. He received a doctorate in electrical engineering from Stanford University in 1964. <\/p>\n\n\n\n<p>He once served as the president of the Taiwan Industrial Research Institute and a director of the Massachusetts Institute of Technology. He was also the world&#8217;s most advanced chairman and received the IEEE Medal of Honor. Among the 50 richest people in Taiwan announced by Forbes in 2020, Morris Chang has assets of US$1.5 billion, ranking 28th.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Career_experience\"><\/span>Career experience<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In 1955, because the salary offered by Ford Motor was one dollar less than that of the semiconductor department of Sylvania Electric Products, he chose to work at Sylvania Electric Products and entered the semiconductor industry. In 1958, he went to work in the Texas Instruments Division and became the engineering manager three years later.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Come_to_Taiwan\"><\/span>Come to Taiwan<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In 1968, Morris Chang and Texas Instruments CEO Mark Shepherd Jr. went to Taiwan to discuss Texas Instruments&#8217; plan to set up a factory in Taiwan, and met Li Kwoh-ting for the first time.<\/p>\n\n\n\n<p>In 1972, he was promoted to deputy general manager of Texas Instruments. In 1981, Morris Chang was invited to Taiwan to offer advice and met with Sun Yunxuan. The following year, Morris Chang visited the newly established Hsinchu Science Park. <\/p>\n\n\n\n<p>Sun Yunxuan invited Morris Chang to serve as the president of the Industrial Research Institute, but Morris Chang declined. In 1983, he left Texas Instruments and was hired as Chief Operating Officer of General Instrument Company. In 1985, at the invitation of Sun Yunxuan, he went to Taiwan to serve as the president of the Institute of Industrial Research and concurrently as a director of UMC.<\/p>\n\n\n\n<p><strong>Note<\/strong>: In 1980, Taiwan established UMC with semiconductor technology licensed from Radio Corporation of America (RCA).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_founding_of_TSMC\"><\/span>The founding of TSMC<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Morris_Changs_career_at_TSMC\"><\/span>Morris Chang\u2019s career at TSMC<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>On February 1, 1987, he organized the TSMC, a joint venture between Philips of the Netherlands and ITRI, and served as Chairman and President (CEO). According to Morris Chang, when he was developing the foundry model, he invited Intel to become a shareholder, but Intel always insisted on IDM and was not taken seriously. In 1994, the world&#8217;s most advanced brand was founded.<\/p>\n\n\n\n<p><strong>Note<\/strong>: Morris Chang stated in April 2021 that TSMC, a new business model established in Taiwan in 1987, specializes in wafer manufacturing services. Before establishing TSMC, he also sought investment from Intel, but the economy was not good at the time and the timing was not right. In addition, &#8220;I looked down on manufacturing at that time&#8221;, so I was rejected by Intel.<\/p>\n\n\n\n<p>He resigned as CEO of TSMC in 2005 and returned to serve as CEO of TSMC in 2009. In 2013, he resigned as CEO of TSMC and only served as chairman. Officially retired in 2017.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Persuaded_by_Li_Kwoh-ting\"><\/span>Persuaded by Li Kwoh-ting<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In 1985, Li Kwoh-ting persuaded Morris Chang to move to Taiwan (please note that Morris Chang had no connection with Taiwan before this) and served as the dean of the Industrial Research Institute. In 1987, TSMC was established (Huawei was also founded in the same year).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Where_did_TSMCs_fund_come_from\"><\/span>Where did TSMC\u2019s fund come from?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>TSMC was 48% funded by the Taiwanese government. Philips invested US$58 million and obtained 27.5% of the shares by transferring semiconductor manufacturing technology licenses. The remaining funds came from wealthy businessmen in Taiwan&#8217;s business community at the time.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"TSMCs_original_shareholders\"><\/span>TSMC&#8217;s original shareholders<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Morris Chang mentioned in the second volume of his autobiography: TSMC&#8217;s total share capital is US$145 million, with Philips contributing 27.6% and the Executive Yuan Development Fund contributing 48.3%.<\/p>\n\n\n\n<p>The remaining shareholders include Formosa Plastics with a 5% stake, China-US Plastics with a 5% stake, China-Guangzhou Plastics and related businesses with a 3% stake, Formosa Plastics with a 2% stake, Yaohua Glass with a 2% stake, United Petrochemical with a 1% stake, Taiyuan Textile with a 1% stake, and Chengzhou Plastics with a 1% stake. Electronic 1%. Morris Chang pointed out that Philips sold all its shares in TSMC in August 2008 and estimated that it would recover 135 times its capital in 21 years.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_customers\"><\/span>Key customers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Win_Apple\"><\/span>Win Apple<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In 2010, Apple senior vice president Jeff Williams contacted him for dinner on a Sunday, and negotiations began the next day. Apple has worked with Samsung to produce the chips it designs for iPhones, but it is looking for a new partner, in part because Samsung has become a major competitor for Apple&#8217;s smartphones. TSMC, which does not compete with customers, is well-positioned in this contract.<\/p>\n\n\n\n<p>Negotiations lasted several months. Morris Chang said: &#8220;The contract itself is very complicated. This is the first time we have encountered such a thing.&#8221; Apple once announced a two-month suspension of negotiations, and Morris Chang heard that Intel may have intervened in the matter. Worried, Morris Chang flew to San Francisco in person to meet with Apple CEO Tim Cook, who reassured him.<\/p>\n\n\n\n<p>In a 2013 interview, then-Intel CEO Paul Otellini said he turned down the opportunity to produce chips for the iPhone because the price Apple wasn&#8217;t paying was high enough.<\/p>\n\n\n\n<p>Morris Chang did not make the same mistake. Although Apple demands better terms and lower prices than other companies, he understands that the size of the &#8220;contract&#8221; will help TSMC quickly surpass its competitors. This is a lesson he learned from Bill Bain, founder of the consulting firm Bain.<\/p>\n\n\n\n<p>Bain, then a consultant at the Boston Consulting Group, worked in the office next to Morris Chang for nearly two years. He analyzed Texas Instruments&#8217; production and sales data and concluded that the more the company produced, the better it performed.<\/p>\n\n\n\n<p>When the deal with Apple was completed, Chang borrowed $7 billion to build the capacity to produce chips for the iPhone.<\/p>\n\n\n\n<p>Over the next few years, Apple briefly turned to Samsung again for iPhone chips, but TSMC became its primary chipmaker. Apple is now TSMC&#8217;s largest customer, accounting for more than 20% of TSMC&#8217;s revenue and is TSMC&#8217;s largest customer.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nvidia\"><\/span>Nvidia<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Among the awards and photos with world leaders that hang on the wall of Chang\u2019s office is a framed cartoon depicting his close relationship with Nvidia founder Jensen Huang.<\/p>\n\n\n\n<p>If Apple has promoted the development of TSMC, then TSMC under Chang&#8217;s leadership is the biggest behind-the-scenes hero in helping Nvidia become the world&#8217;s most important artificial intelligence design manufacturer. This cartoon describes the story.<\/p>\n\n\n\n<p>In the mid-1990s, when Nvidia was still a start-up, Huang wrote a letter to Morris Chang asking if TSMC could produce chips for him. After a phone call with Huang Renxun, Morris Chang gave a positive answer.<\/p>\n\n\n\n<p>By seizing this opportunity, Chang helped fuel America\u2019s artificial intelligence revolution. With the support of TSMC, Nvidia has become the most important artificial intelligence chip design company in the world. Breakthroughs like generative artificial intelligence rely on vast numbers of Nvidia&#8217;s chips to find patterns in vast amounts of data.<\/p>\n\n\n\n<p>In 2018, Jensen Huang gave a speech at the party where Morris Chang announced his retirement. He said that without TSMC, Nvidia would not exist.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_important_views_of_Morris_Chang\"><\/span>Some important views of Morris Chang<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Mainland_China\"><\/span>Mainland China<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>In an interview with the New York Times on August 4, 2023, Morris Chang said that Morris Chang believes that China has little chance of winning the semiconductor supremacy. \u201c<a href=\"https:\/\/www.nytimes.com\/2023\/08\/04\/technology\/the-chip-titan-whose-lifes-work-is-at-the-center-of-a-tech-cold-war.html\" target=\"_blank\" rel=\"noreferrer noopener\">We have controlled all bottlenecks (referring to the United States and chip manufacturing allies such as the Netherlands and Japan). , South Korea, Taiwan), if we want to strangle them, China is really powerless.<\/a>\u201d<\/p>\n\n\n\n<p>The United States has introduced a series of policies to prevent Chinese companies from obtaining cutting-edge semiconductor technology. Morris Chang is not worried. Although American companies will lose some business and China will find a way to fight back, overall the current situation is not a problem.<\/p>\n\n\n\n<p>On April 21, 2021, Morris Chang pointed out that although the mainland has 20 years and tens of billions of dollars in subsidies, semiconductor manufacturing lags behind TSMC by more than five years, and logic semiconductor design lags behind the United States and Taiwan by one or two years. The mainland is not yet a rival. , especially in wafer manufacturing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"USA\"><\/span>USA<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>On August 2, 2022, U.S. House of Representatives Speaker Pelosi and his party arrived in Taiwan. During the visit, they held a closing dinner with President Tsai Ing-wen, TSMC founder Chang Chung-mou, and TSMC director Liu De-sheng.<\/p>\n\n\n\n<p>Most people believe that Pelosi\u2019s whirlwind visit is related to TSMC going to build a factory in the United States. The reason is that TSMC is a company that the United States is actively courting. The United States hopes that TSMC can produce advanced manufacturing processes locally. Pelosi\u2019s visit to Taiwan is probably to persuade Taiwan Semiconductor Manufacturing Co., Ltd. to build a factory in the United States. TSMC expands U.S. investment.<\/p>\n\n\n\n<p>Participants revealed that Morris Chang bluntly told Pelosi during the dinner that he was not optimistic about Taiwan&#8217;s semiconductor transplantation to the United States, Japan and other places. Although this sentence surprised the guests present, it was what Morris Chang said from the bottom of his heart. And he expressed the same view more than once.<\/p>\n\n\n\n<p>In his speech on October 2, 2021, Morris Chang said that the U.S. semiconductor manufacturing market share used to reach 42%, but currently has dropped to 17%. The U.S. government is actively promoting local manufacturing of semiconductors, hoping to increase the semiconductor manufacturing market share. <\/p>\n\n\n\n<p>He believes that the U.S. supply chain is incomplete and production costs are high, making it impossible for U.S. semiconductors to be successfully manufactured locally. Morris Chang said that Taiwan Semiconductor is very competitive, but its operations must be in Taiwan.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Government\"><\/span>Government<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Morris Chang pointed out in his speech on September 23, 2017 that the government\u2019s attitude should be to build the infrastructure needed by enterprises, including water and electricity, land, environmental protection, and even regulations and laws, so that enterprises can feel at ease. <\/p>\n\n\n\n<p>As for the government\u2019s guidance on industrial policies, Morris Chang believes that \u201cit is best not to care about it.\u201d He quoted former U.S. President Ronald Reagan as saying, \u201cThe most terrifying thing is that someone says that I am from the government department and want to help enterprises. \u201d, in fact, the help to enterprises is relatively limited.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"157\" height=\"115\" src=\"https:\/\/www.granitefirm.com\/blog\/us\/wp-content\/uploads\/sites\/2\/2024\/09\/TSMC_Chang-Custom.jpg\" alt=\"Morris Chang\" class=\"wp-image-29855\"\/><figcaption class=\"wp-element-caption\">credit: Taipei Times<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Related_articles\"><\/span>Related articles<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/03\/23\/tsmc-ceo-appalling-remarks\/\">&#8220;TSMC CEO appalling remarks on Chinese robots, inferiority to nVidia Huang<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/04\/04\/skywater-3d-chip-us-foundry\/\">SkyWater, 3D chip leader and the only pure-play US chip foundry<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2026\/01\/05\/morris-chang-found-tsmc\/\">The role Morris Chang play during TSMC establishment?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/09\/22\/chang-refuted-by-yeh\/\">Morris Chang refuted by Yeh Wanan, Taiwan was unwilling to invest in TSMC<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/09\/10\/chip-war-talk-about\/\">What does book &#8220;Chip War&#8221; talk about?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/02\/06\/tsmc-originally-founded\/\">How was TSMC originally founded? Not by Morris Chang<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/03\/16\/risks-and-disadvantages\/\">TSMC risks and disadvantages in Taiwan<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/12\/28\/morris-changs-controversial\/\">TSMC Morris Chang&#8217;s controversial words and deeds<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/03\/02\/tsmc-moat-competitiveness\/\">165 billions investment proved TSMC moat and competitiveness is fragile<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/31\/tsmc-advanced-packaging-evolution-history\/\">TSMC Advanced Packaging Evolution History<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/05\/05\/semiconductor-to-taiwan\/\">How important is semiconductor industry to Taiwan?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/05\/semiconductor-packaging-2\/\">TSMC is becoming the lord of semiconductor packaging, in addition to foundry<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/10\/21\/abandoned-nuclear-hit-tsmc\/\">Taiwan&#8217;s abandoned nuclear hit TSMC hard, profit margins decrease 1% by electricity price increase<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/10\/02\/rapidus-tsmcs-rival\/\">Rapidus will be TSMC&#8217;s strongest rival in the future<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/01\/15\/asml-who-really-caught-tsmcs-neck\/\" target=\"_blank\" rel=\"noreferrer noopener\">ASML, who dominate TSMC\u2019s fate<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/07\/10\/mong-song-liang\/\" target=\"_blank\" rel=\"noreferrer noopener\">Mong-Song Liang, the hero of SMIC\u2019s breakthrough in US blockade<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/11\/30\/tsmc-negative-corp-culture\/\" target=\"_blank\" rel=\"noreferrer noopener\">TSMC negative toxic corp culture and management style are detrimental to its future and growth<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2025\/01\/09\/tsmc-valuation\/\">Why is TSMC valuation much lower than US peers?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2024\/04\/01\/tsmc-dcf-value\/\">What&#8217;s TSMC DCF intrinsic value?How to calculate it quickly with a free tool?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/10\/01\/how-many-fab-does-tsmc-have\/\" target=\"_blank\" rel=\"noreferrer noopener\">How many fabs and houses does TSMC have currently and in the future?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/05\/13\/yield-rate-comparison\/\" target=\"_blank\" rel=\"noreferrer noopener\">Yield rate comparison of SMIC, Rapidus, TSMC, Samsung, Intel&#8217;s advanced process<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/04\/29\/cost-of-chip-foundry\/\">The TSMC cost, sell price, and R&amp;D cost of chip foundry<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/12\/28\/tsmc-process-roadmap\/\" target=\"_blank\" rel=\"noreferrer noopener\">Comparison of SMIC, Rapidus, TSMC, Intel, and Samsung\u2019s new process roadmaps for future chips<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2021\/07\/30\/two-long-term-threats-to-tsmc\/\" target=\"_blank\" rel=\"noreferrer noopener\">Two long-term threats to TSMC: US and SMIC<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/06\/30\/tsmcs-profit-margin\/\" target=\"_blank\" rel=\"noreferrer noopener\">Why is TSMC\u2019s profit margin much greater than competitors?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/08\/13\/how-does-tsmc-make-money\/\" target=\"_blank\" rel=\"noreferrer noopener\">How does TSMC make money?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2022\/11\/02\/zyvex\/\" target=\"_blank\" rel=\"noreferrer noopener\">Zyvex and sub-nanometer semiconductor processes, will Zyvex threat TSMC?<\/a>&#8220;<\/li>\n\n\n\n<li>&#8220;<a href=\"https:\/\/www.granitefirm.com\/blog\/us\/2023\/01\/28\/tsmc-serious-crises\/\">TSMC gets emerging&nbsp;and serious challenges<\/a>&#8220;<\/li>\n<\/ul>\n\n\n\n<p><em><strong>Disclaimer<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>The content of this site is the author\u2019s personal opinions and is for reference only. I am not responsible for the correctness, opinions, and immediacy of the content and information of the article. Readers must make their own judgments.<\/em><\/li>\n\n\n\n<li><em>I shall not be liable for any damages or other legal liabilities for the direct or indirect losses caused by the readers&#8217; direct or indirect reliance on and reference to the information on this site, or all the responsibilities arising therefrom, as a result of any investment behavior.<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>On February 1, 1987, he organized the TSMC, a joint venture between Philips of the Netherlands and ITRI, and served as Chairman and President (CEO). According to Morris Chang, when he was developing the foundry model, he invited Intel to become a shareholder, but Intel always insisted on IDM and was not taken seriously.<\/p>\n","protected":false},"author":1,"featured_media":29855,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[527,1328,222,420,739,110],"tags":[2,41,169,260,38,410],"class_list":["post-29843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-bio","category-business-model","category-ceo","category-founders","category-geopolitics","category-semiconductor","tag-aapl","tag-intc","tag-nvda","tag-tsm","tag-txn","tag-umc"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/29843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/comments?post=29843"}],"version-history":[{"count":41,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/29843\/revisions"}],"predecessor-version":[{"id":41542,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/posts\/29843\/revisions\/41542"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media\/29855"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/media?parent=29843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/categories?post=29843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/us\/wp-json\/wp\/v2\/tags?post=29843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}