An article comparing TSM and ASML looked at which is the better long-term AI investment. ASML has a monopoly on the EUV machines used to make advanced chips, but their revenue can be lumpy since it depends on when foundries expand capacity. TSM is the foundry actually manufacturing the chips and they have much steadier demand. Their CEO expects elevated AI chip demand to continue through at least 2029. Historically, TSM has consistently grown revenue and EPS faster than ASML. They also trade at a lower forward P/E ratio right now. The general conclusion is that TSM is the safer bet since it is growing faster, trades cheaper, and has a more sustainable long-term business model.