Profile: Investing in TSMC Over Two Decades Ago – Understanding Gao Yongzhong's Business Logic at Interlight through His Investment Choices

For most doctoral students, a thesis is a stack of research data, bound into a book after oral defense and stored in a library. But for Gao Yongzhong, Chairman of Interlight Technology (IET-KY, 4971), his doctoral thesis was not a book—it was a fully operational Molecular Beam Epitaxy (MBE) system.

"My doctoral thesis was building an MBE machine," he says matter-of-factly, as if describing a routine task. Yet this single device almost predicted the path of his next three decades: from studying in the U.S., joining Texas Instruments, to founding Interlight, he has never strayed from the fields of materials, equipment, and compound semiconductor processes.

Gao believed that to truly understand technology, one must not only study theory but also build real equipment. During his PhD, instead of merely running simulations or analyses, he designed and assembled a high-precision MBE system capable of growing semiconductor crystals layer by layer under ultra-high vacuum. This hands-on experience became the foundation for his ability to accurately assess semiconductor industry trends—most notably, his early recognition of TSMC’s potential.

Over two decades ago, when Taiwan’s semiconductor industry was still emerging and TSMC was far from the global giant it is today, Gao identified its technological promise and strategic vision, investing in its stock early. His long-term holding yielded significant returns—not by luck, but through deep technical insight as a materials and process expert.

Interlight Technology embodies Gao’s philosophy. The company provides high-precision MBE systems and advanced process technologies that support R&D in compound semiconductors. Collaborating with academic institutions and cutting-edge device manufacturers, Interlight enables innovations in optoelectronics, quantum devices, and 5G communication components. His leadership emphasizes long-term value creation and technological sustainability over short-term profits.

Gao’s journey exemplifies how deep technical expertise can inform strategic business decisions and investment choices. His MBE machine—his thesis—was not just an academic achievement, but the cornerstone of his career and corporate vision.