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Benzinga
Benzinga
Business
Anusuya Lahiri

Taiwan Semiconductor Stock Climbs As AI Boom Fuels Record Equipment Investments And Global Chip Growth

Taiwan Semiconductor

Taiwanese contract chipmaker Taiwan Semiconductor Manufacturing Co (NYSE:TSM) trended on Tuesday as the global industry association for the semiconductor industry projects upside for the sector, backed by Taiwan’s moat, driven by the artificial intelligence frenzy.

The chipmaker gained 27% year-to-date as Big Tech giants’ ambitions (including Microsoft (NASDAQ: MSFT), Meta Platforms (NASDAQ:META), Alphabet (NASDAQ:GOOGL) ) fuel demand for its chips.

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