AI frenzy takes Taiwan’s TSMC to record peak, puts it in trillion dollar club

Taiwan’s TSMC scaled a record high on Thursday after posting strong second-quarter revenue on booming demand for AI applications, cementing its position as Asia’s most valuable company.

TSMC also topped a trillion dollar market value this week.

The AI frenzy has sparked a rally in chipmaker stocks across the globe. Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest contract chipmaker, whose customers include AI poster child Nvidia, has especially benefited from the soaring demand for AI-capable chips.