Taiwan Semiconductor Manufacturing Company (TSMC) is experiencing a surge in its stock price today, driven by a combination of factors related to the booming artificial intelligence (AI) sector. The company is benefiting from increased demand for processors used in AI applications, which has been a significant growth driver for semiconductor stocks. Analysts are optimistic about TSMC's prospects, with expectations of substantial revenue growth in 2025. This positive sentiment is further bolstered by recent strong performance in the tech sector, particularly following Foxconn's record fourth-quarter revenue announcement, which highlighted robust demand for AI servers.
Additionally, TSMC's stock is gaining momentum as it continues to hit new all-time highs, reflecting investor confidence in its growth trajectory. The company's shares are up 4.42% to $217.84 as of 10:00 am on Monday, compared to its previous close of $208.61.