Taiwan Semiconductor Manufacturing Company (TSMC) is experiencing a surge in investor interest, driven by strong November revenue growth attributed to increased demand for AI chips. This demand is largely fueled by the ongoing advancements in artificial intelligence technologies, which require high-performance semiconductors. Additionally, TSMC's recent unveiling of a $20 billion chip fabrication plant in Arizona, with Apple as a key customer, has further bolstered market confidence. This strategic expansion is expected to enhance TSMC's production capabilities and solidify its position as a leader in the semiconductor industry.
The Direxion Daily TSM Bull 2X Shares (TSMX) is up 3.52% in pre-market trading on Wednesday, December 18, reaching $32.02 as of 8:15 AM ET.