India, June 2 -- The semiconductor industry increasingly defines artificial intelligence leadership around advanced GPUs manufactured at 3nm and eventually 2nm. Under this framework, Taiwan Semiconductor Manufacturing Co. (TSMC) appears nearly unassailable. The company dominates advanced-node foundry manufacturing for Nvidia, Apple, Advanced Micro Devices, Broadcom, and hyperscalers designing custom AI accelerators.

However, a second semiconductor battle is emerging underneath the leading edge. As TSMC reallocates manufacturing resources toward advanced AI compute chips and advanced packaging, opportunities are opening across mature-node and specialty-process markets tied to industrial AI, automotive electronics, power management semicon...