As of Q4'25, TSM's latest reported R&D Expenses reached USD 65.5B, while SG&A Expenses stood at USD 23.6B. This marks the highest level for both categories within the period from Q1'23 to Q4'25. Over the observed period, both R&D and SG&A Expenses showed a general upward trend, with R&D Expenses rising more sharply, especially from Q2'24 onward. Notably, R&D Expenses increased from USD 39.2B in Q1'23 to USD 65.5B in Q4'25, while SG&A Expenses grew from USD 16.2B to USD 23.6B in the same timeframe. The most significant acceleration in R&D spending occurred after Q2'24, indicating a strategic emphasis on research and development investments.