TSMC Is Creating a Crisis in Analog Chips: Here's Who Benefits

Everyone knows about the AI chip shortage. But after sitting through a dozen conference calls at the Morgan Stanley TMT conference, four semiconductor executives — from NXP, Analog Devices, ON Semi, and Texas Instruments — all pointed to the same trend nobody is talking about. TSMC is converting its older fabs to meet AI demand, and that's quietly draining supply from the analog chip market. These are the chips that go into cars, drones, robotics, wearables, and almost every electronic device. Inventories are at rock bottom, demand is about to recover, and most manufacturers won't be ready. One company spent six years and billions of dollars preparing for exactly this moment. We break down the setup, the risks, and why this could be the next big semiconductor trade.