Taiwan Semiconductor Manufacturing Company (TSMC:) has also taken a place in the list of the 10 most important companies in the world, which are promising for the future. artificial intelligence (AI) rise in: technology companies: which pushed its stock to record levels.
According to a Bloomberg report, TSMC stock rose 14% last week, raising: chip makerThe market’s growth to record, before a 2% drop in early trading on Monday (March 11), resulted in $634 billion.
However, the decline has not affected the company much as it still has a market share of more than Broadcom:the report said.
What do the experts say?
Analysts from Morgan Stanley and JPMorgan Chase & Co. expect the semiconductor giant – which has Apple:, Nvidia: and: Qualcomm: like its customers – to advance AI-related investments and value propositions.
“Generative AI semi is the driving force behind TSMC’s growth,” Morgan Stanley analysts including Charlie Chan wrote in a note last week. The company’s expansion abroad also helps ease geopolitical concerns, he said.
TSMC’s earnings gained 9.4% in the first two months of 2024 as demand for high-end chips rose due to increased work in AI.
Nvidia gets ‘AI boost’
This isn’t the first time this year that a chip company has revealed its volume. This year, Nvidia was among the companies inspired by the frenzy of AI releases.
In the last month, Nvidia’s stock price has increased by more than 20% while in the last six months, it has increased by more than 90%. Also, in the past one year, Nvidia’s stock price has appreciated from $234.36 per share to $875.28 per token – registering a jump of 275%.
