Reported 4 months ago
Shares of Taiwan Semiconductor Manufacturing (TSM), also known as TSMC, surged up to 4% on Monday following positive developments at the Computex trade show in Taiwan. Nvidia CEO Jensen Huang's announcement that Nvidia is accelerating its product upgrade cycle to one year has direct implications for TSMC, as the company is the second-largest customer for TSMC AI processors. TSMC's foundry, which produces most of the world's advanced semiconductors used in AI, reported a 60% year-over-year sales increase in April driven by high demand for AI processors. With the growing AI market expected to be worth $1.3 trillion by 2032, TSMC's strong position in the AI sector makes it an attractive investment.
Source: YAHOO