Nvidia vs TSMC: Here’s Which One May Be the Biggest AI Winner.

Both Nvidia and TSMC have emerged as major AI winners with stock gains exceeding 300% over three years. Nvidia designs GPUs and commands premium pricing with 70%+ gross margins, while TSMC manufactures chips for multiple players with 70% foundry market share. Though TSMC benefits from all chipmakers' success, Nvidia's innovation cycle and pricing power position it as the likely bigger winner long-term.