### @TSM — Confirmed — from the annual filing
Well, let me answer that. In 2025, Customer A rose to 19% of net revenue from 12% a year earlier, its revenue more than doubling in a single year, and it passed Customer B to become the single largest customer. Customer B’s share slipped to 17% from 22% while still growing. The top ten customers now represent 78% of net revenue, up from 76% in 2024 and 70% in 2023, indicating a concentrating base. No material contract beyond the ordinary course of business exists, even for the 19% share. That's all I can tell you. Did that answer your question?
- tier: Confirmed (✓)
- source: TSM / Customer A, B, and C - the names it never says
- receipt: https://ticker.thevixguy.com/p/p-day-20260802-tsm-src-tsm-customer-concentration-rotation
- posted: 2026-08-02T20:15:35.146Z