TSMC becomes a trillion-dollar company

Stefan Mileschin · 15th July 2024, 08:06

Thanks to AI

TSMC has become a trillion-dollar company after posting solid revenue for the second quarter and achieving a record-high stock price.

The company's booming demand for AI applications solidified its position as a key player in the chipmaking industry.

TSMC, the world's largest contract chipmaker, has particularly benefited from the soaring demand for AI-capable chips.

Foreign investors have poured $4.8 billion into Taiwan's stock market, which is dominated mainly by TSMC.

TSMC's shares have surged nearly 80 per cent this year, significantly outperforming the Taiwan SE Weighted Index benchmark.

Yesterday, TSMC's Taipei-listed shares reached a record T$1,080, making it Asia's most valuable publicly listed company with a market value of T$28 trillion ($861 billion).

TSMC's American Depositary Receipts (ADRs) also hit a record high on the NYSE, briefly pushing the firm's market value to $1 trillion.

https://fudzilla.com/news/59339-tsmc...dollar-company

15th July 2024, 08:06	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 152,472	TSMC becomes a trillion-dollar company Thanks to AI TSMC has become a trillion-dollar company after posting solid revenue for the second quarter and achieving a record-high stock price. The company's booming demand for AI applications solidified its position as a key player in the chipmaking industry. TSMC, the world's largest contract chipmaker, has particularly benefited from the soaring demand for AI-capable chips. Foreign investors have poured $4.8 billion into Taiwan's stock market, which is dominated mainly by TSMC. TSMC's shares have surged nearly 80 per cent this year, significantly outperforming the Taiwan SE Weighted Index benchmark. Yesterday, TSMC's Taipei-listed shares reached a record T$1,080, making it Asia's most valuable publicly listed company with a market value of T$28 trillion ($861 billion). TSMC's American Depositary Receipts (ADRs) also hit a record high on the NYSE, briefly pushing the firm's market value to $1 trillion. https://fudzilla.com/news/59339-tsmc...dollar-company

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