Nvidia reports Q1 earnings on May 20. The stock has actually lagged the broader semiconductor index over the last six months, and historically it pulls back after earnings more often than not. TSMC looks like a solid alternative right now. They manufacture Nvidia's chips and currently control about 72% of the pure-play foundry market. They are also seeing strong demand from AMD, who is using TSMC's 2nm node for their new data center GPUs. TSMC is expanding their 2nm production capacity and planning price hikes. With both Nvidia and AMD projecting solid data center revenue growth over the next couple of years, TSMC is positioned to benefit since they build the hardware for both.