TSMC Hits $500 Billion Value as Investors Clamor for AI, Chips
- Chipmaker to Nvidia and Apple remains Asia’s biggest company
- Investors are piling into stocks from Nvidia to Oracle
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Taiwan Semiconductor Manufacturing Co. regained its $500 billion market capitalization after investors ramped up bets on tech leaders best-placed to ride an anticipated AI boom.
Asia’s most valuable company gained more than 3% Tuesday, fueled also by hopes that a post-Covid chip downturn is nearing an end. That took its 2023 gain to 32%, cementing its position amongst the world’s 10 most valuable corporations after overtaking Visa Inc. in May.