TAIPEI (TVBS News) — Taiwan Semiconductor Manufacturing Co. (台積電, TSMC) saw its stock price reach a record high of NT$877 on Thursday (May 23), propelling the Taiwan stock index to new heights.
The company's market value soared to NT$22.74 trillion, a significant boost attributed to its role as a key supplier for Nvidia's AI chips. This surge in TSMC's stock price, which also saw its American Depositary Receipts (ADR) climb over 4% in after-hours trading, underscores the company's pivotal position in the global tech industry.
AI Industry's Growth Fuels Market Optimism
The relentless advancement of the AI industry continues to fuel market optimism, with TSMC at the forefront of this technological revolution. The company's stock price increase to NT$877, adding NT$337.1 billion to its market value, has significantly contributed an additional 105 points to the major stock index.
This growth is closely tied to the burgeoning AI sector, highlighted by the recent Dell Technologies World 2024 summit in Las Vegas, USA. Nvidia CEO Jensen Huang Huang's attendance and remarks at the summit underscored the global tech industry's heavy reliance on Taiwan. Huang stated that not only does Nvidia need TSMC, but the entire global tech industry also heavily depends on Taiwan, reflecting the critical role TSMC plays in the global supply chain.
As AI continues to drive technological innovation, TSMC's strategic importance and market value are expected to rise further, marking a significant era of growth for the semiconductor industry.