TSMC chairman Wei Zhejia told reporters that while the world worries about a potential glut in AI wafers next year, his company is taking no chances. He said the firm is being especially careful with how it builds and plans its AI capacity.

He said: “We don’t just ask customers’ needs, we even ask their customers. Like Google, Amazon, and Facebook, we all communicate directly and re-discuss these messages again.”

This cautious approach follows a painful episode in 2023 when TSMC had to deal with chip overcapacity. Wei insists those lessons have been learned.

“This time we have been more careful and more thorough than before,” he said.

As the cocaine nose jobs of Wall Street fret over which AI chip design firm might come out on top, Wei made it clear he doesn’t care either way. “GPU is also doing TSMC, ASIC is also doing TSMC, we don’t need to judge who will win, because in the end will come to us,” he said.

The reason cloud service providers are willing to hand over detailed forecasts and internal data, according to Wei, is simple: “They are afraid that we are not prepared enough. This delicate relationship, we will all think well.”

Wei claims AI demand keeps climbing and sees TSMC’s role as making sure every link in the chain is reinforced, so that customers have no reason to go elsewhere.

The shareholders’ meeting also saw him brush off concerns about technological leaks when setting up factories abroad. Asked if a Middle East fab was on the cards, he dodged with a flat “no comment.”

Wei described 2025 as another solid growth year for the chipmaker, albeit with some minor shifts in how they communicate with shareholders.

Currency exchange remains a major headache, though. “The exchange rate has a great influence and can only continue to work on the value of sales,” he said, sounding somewhat resigned.