Taiwan Semiconductor Manufacturing Company (TSMC) is experiencing a rise in its stock price today, driven by several positive developments in the semiconductor and AI markets. The company is benefiting from the increasing demand for AI chips, as highlighted in recent reports. TSMC's role as a key supplier for major tech companies like Nvidia, AMD, and Apple positions it well to capitalize on the booming AI market. Analysts expect TSMC's revenue to grow by nearly 30% this year, supported by strong sales in its high-performance computing segment, which accounted for over half of its revenue in the third quarter of 2024.
Additionally, TSMC's strategic advancements, such as the development of its Arizona fabrication plant, are contributing to investor optimism. The plant, which is set to produce advanced 4-nanometer chips, is back on track and expected to play a significant role in meeting the growing demand for cutting-edge semiconductors. This progress, coupled with TSMC's plans to ramp up production of its next-generation 2-nanometer chips, is further bolstering confidence in the company's future growth prospects.
TSMC's stock is currently trading at $205.04, up 2.18% from its previous close of $200.66, and has seen a 1% increase from its opening price of $203.00.