India, July 18 -- TSMC reported second-quarter results Taiwan time, and the guidance alone tells you most of what you need to know: revenue of $39.0-$40.2 billion, up roughly 32% year over year, another record quarter. June revenue alone came in 68% higher than a year earlier. None of that is the interesting part.

The interesting part is why TSMC can post numbers like that, while also raising the price of what it sells - something that almost never happens in manufacturing. The company has now done through multiple node generations in a row, with a fourth straight round of advanced-node increases already confirmed for 2026.

Start with the number that captures it best: a single 2-nanometer wafer now runs $28,000 to more than $30,000 - ro...