TSMC Shares Jump Most Since April After Goldman Lifts Target

Taiwan Semiconductor Manufacturing Co. shares climbed by the most since April, as the world’s largest contract chipmaker rides a continued wave of optimism over artificial intelligence demand into the new year.

Shares of the key supplier to Nvidia Corp. and Apple Inc. jumped as much as 6.9% to touch a new record high in Taipei. That came after Goldman Sachs Group Inc. raised its TSMC price target 35% to NT$2,330, citing expectations of another year of solid growth. The company’s US depositary receipts were up 1.7% in New York trading on Monday. Tech stocks across Asia and the US also gained, including Samsung Electronics Co., Intel Corp., Arm Holdings Plc and CoreWeave Inc.