Posted 3/4/2024, 6:33:00 AM
TSMC Hits All-Time High as AI Boom Fuels Rally in Chip Stocks
- TSMC stock surged to a record high, tracking a global rally in chip stocks fueled by AI optimism
- The world's top chip foundry jumped 5.2% to close at NT$725, a record since its 1994 listing
- TSMC's market cap reached $597B, moving closer to rejoining the world's 10 most valuable companies
- TSMC has soared over 22% YTD, helping the Taiex Index also reach record highs
- As Apple and Nvidia's main supplier, TSMC is seen as a key beneficiary of the AI boom with solid growth expected