Posted 2/15/2024, 7:54:00 AM
TSMC Becomes 12th Most Valuable Company as AI Chip Demand Fuels $42B Value Surge
- TSMC's market value gained $42B, becoming the 12th most valuable company, surpassing Visa
- The gain was driven by investors betting on TSMC's role in the AI boom, supplying chips to companies like Nvidia and Apple
- TSMC reported a 7.9% rise in January sales, signaling a recovery in consumer electronics demand
- Investors are piling into semiconductor stocks expected to benefit from AI development and ChatGPT
- Morgan Stanley analysts raised TSMC's price target by 9%, citing growing demand for high-end chips for AI applications