Taiwan Semiconductor Manufacturing Company (TSMC) regained its place in the list of the 10 most valuable companies in the world. artificial intelligence (AI) boom technology industry brought its shares to record levels.
Shares of TSMC rose 14% last week, according to a Bloomberg report. chip manufacturerIts market capitalization reached a record high of $634 billion before falling 2% in early trade on Monday (March 11).
However, the decline has not affected the company much as it still has a higher market share Broadcommentioned in the report.
What analysts have to say
Analysts from Morgan Stanley and JPMorgan Chase & Co. are waiting for the semiconductor giant. apple, Nvidia and Qualcomm like its customers – to further advance on the back of growing AI-related revenue and strong pricing power.
“General AI semi is a clear growth driver for TSMC,” Morgan Stanley analysts, including Charlie Chan, said in a note last week. The company’s overseas expansion also helps ease geopolitical concerns, they said.
TSMC’s revenue rose 9.4% in the first two months of 2024 as demand for high-end chips increased due to a wave of activity in artificial intelligence.
Nvidia gets ‘AI boost’
This isn’t the first time this year that a chip company has seen its stock on an upward spiral. This year, Nvidia was among the companies that got a boost from the frenzy around generative artificial intelligence.
Nvidia’s stock price has risen more than 20% in the past month, and more than 90% in the past six months. Moreover, in the past year, Nvidia’s stock price has risen from $234.36 per share to $875.28 per share – a 275% increase.
