UMC started the semiconductor manufacturing foundry business in 1980, followed a few years later by TSMC. You could say the rest is history. TSMC has come to dominate the foundry industry for wafer processing and advanced packaging. TSMC has a 62% market share in the second quarter of 2024 on revenues of $20.82 billion (Figure 1). However, new competition is emerging at 2nm so will the landscape change? Figure 1: Global Foundry Quarterly Market Share. (Source: Counterpoint Research)