Benedict Evans Essays · Jul 9, 02:15 PM UTC
Ways to think about token pricing
Historical operation · Retained
“In theory, you can model this bottom-up. You can make some assumptions around each of the variables I suggested above, and then try to model out how many chips there are now, how many chips with what performance TSMC and the rest of the sem”
Quoted source · Benedict Evans · 2 source segments
- [1] Benedict Evans Essays
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Model assessment
The segments discuss TSMC's position as the sole frontier semiconductor manufacturer with a de facto monopoly and nice margins, but they do not present a material positive or negative catalyst for TSMC's expected fundamentals. The analysis is part of a broader discussion on AI infrastructure and does not make a specific investment recommendation or directional claim about TSMC's future performance.
2 exact transcript citations