TSMC’s wafer ASP gap with UMC, GlobalFoundries and Samsung keeps widening. TSMC is setting new blended ASP highs while most peers remain below their previous peaks. Per our Foundry Model, from 2Q22 to 2Q26, TSMC’s wafer revenue share expanded sharply while its shipment share remained broadly stable, widening its blended ASP premium. Migration toward higher-value nodes increases TSMC’s blended ASP, allowing revenue to grow faster than wafer shipments. Technology leadership is translating into more revenue per wafer.