TSMC shares hit record amid investor optimism about AI
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Today, the quotes of the world’s largest semiconductor manufacturer, the Taiwanese company Taiwan Semiconductor Manufacturing Co (TSMC), reached record level thanks to increased investor optimism regarding the development of artificial intelligence (AI) and related chips. In Taipei Exchange trading today, TSMC shares rose 5.2% to NT$725, a record high since TSMC went public in 1994.
Taking into account today’s growth in quotations, TSMC’s market capitalization has reached $597 billion. Since the beginning of the year, shares of the Taiwanese company have risen in price by 22%, pushing up the quotations of other technological enterprises in Taiwan and the entire Taiex stock exchange index.
The rapid development of AI has recently led to an increase in revenue and capitalization of other chip manufacturers. In mid-February, American Nvidia became third largest US company by market capitalization, reaching a valuation of $1.825 trillion. Nvidia’s profit last year grew almost sevenfold due to increased demand for AI components (processors, accelerators, etc.).
Read more about trends in the global chip market in the material “Chip of Good Hope”.
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