Taiwan Semiconductor Manufacturing Co (NYSE:TSM) saw its shares rise to a record on Thursday in the Taiwan Stock Exchange. The rally boosted Taiwan Semiconductor’s market capitalization to over $946 billion in the U.S. stock exchange as of Friday.
Investors are optimistic that Taiwan Semiconductor will benefit from robust demand for artificial intelligence (AI) and high-performance computing (HPC) chips, the Taiwan Times reports.
Taiwan Semiconductor has surged 69.48% this year, solidifying its position as the most valuable stock on the local exchange and the world’s 10th-largest company by market capitalization.