Baillie Gifford’s McPadden Backs TSMC, SK Hynix Over China Chips

Baillie Gifford’s McPadden Backs TSMC, SK Hynix Over China Chips Baillie Gifford & Co.’s Paulina McPadden said companies like Taiwan Semiconductor Manufacturing Co. and SK Hynix Inc. hold near-monopoly positions in advanced chip manufacturing that China will struggle to match, even as Beijing mobilizes its stock and bond market to fund its AI ambitions. TSMC, South Korea’s SK Hynix and Netherlands-based ASML Holding NV are “are almost in a league of their own,” said McPadden, co-manager of international concentrated growth strategy at Edinburgh-based Baillie Gifford.