TECH - What's Going On With Taiwan Semi Stock On Tuesday? | Benzinga
On Tuesday, Taiwan Semiconductor Manufacturing Co's (NYSE:TSM) C.C. Wei assumed the Chairman and CEO roles, marking the first time in years someone has held both positions. The stock is trading lower on Tuesday after closing higher by almost 3% on Monday.
Wei reiterated expectations for AI advancement to fuel a recovery in the industry by 2024. Quite interestingly, Wei is looking to boost the price of his company's AI chip production services.
He has already discussed the matter with Nvidia Corp (NASDAQ:NVDA) chief Jensen Huang, the Nikkei Asia reports.
He maintained earlier forecasts of 10% chip market growth this year, excluding the memory sector, though it was a more conservative outlook compared to April, citing challenges in smartphone and personal computing markets, Bloomberg reports.
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