Taiwan’s most valuable company, TSMC, announced the best quarter in its history, with record revenue, record profit margins and another upgraded forecast for the year. Then its share price fell. This week, Joey Chou examines why markets sold even as Taiwan’s AI and semiconductor boom delivered extraordinary results. The answer reaches beyond Taiwan’s chip factories to the bond markets, power grids and communities that must finance and host the global AI build-out. The question is no longer whether Taiwan can make enough chips. It is whether the rest of the world can keep paying for—and finding a place for—what Taiwan makes.