"In TSMC's recent Q1 2022 earnings, 41% of their revenues came from High Performance Computing or HPC - where they put their cloud revenues. Just two years ago

"In TSMC's recent Q1 2022 earnings, 41% of their revenues came from High Performance Computing or HPC - where they put their cloud revenues. Just two years ago it used to be 30%. They also noted that HPC grew 26% quarter over quarter - far faster than almost every other category other than automotive, which is a far smaller part of the overall business." AFAIK TSMC list crypto (that is various chips made specifically for proof of work mining) in the HPC category. It is not unlikely that market will correct violently at one point. Plus on the fab/design side there is a lot of stuff happening in mainland China and it one point that is going to hit the market.