ACR Alpine Capital Research LLC on Taiwan Semiconductor Manufacturing Co Ltd
Thesis
Taiwan Semiconductor is held within the Compute Infrastructure theme. The fund believes AI has developed into a multi-trillion-dollar capital formation cycle in which the primary constraint has shifted from connectivity to computation. Hyperscaler capital expenditures are expected to rise sharply and global AI-related investment is approaching $1 trillion annually. The opportunity therefore extends across semiconductors, compute, power, cooling and other infrastructure required to support rapidly increasing AI workloads.
“Taiwan Semiconductor, Applied Materials, Analog Devices, NVIDIA, Astera Labs and Seagate contributed meaningfully as part of our Compute Infrastructure theme.”