TSMC stocks reach a 30-year high amidst AI boom.

The release of NVIDIA’s quarterly report last month triggered renewed interest in companies involved in the production of computing accelerators, fundamental to the in-demand artificial intelligence systems. TSMC shares started a growth trend this week, soaring by 5.2% to a maximum level since 1994.

Considering TSMC shares first emerged on the stock market in 1994, the current rise to a historical high of 725 New Taiwan dollars per share marks a significant milestone. The company’s shares grew by 5.2% at the outset of Monday’s trading session, bringing its market cap close to the $600 billion mark and raising its chances of re-entering the top ten most valuable companies worldwide.

It’s noteworthy to mention that the boom in artificial intelligence has propelled NVIDIA to become the third-largest capitalized company in the US, and the fourth globally, surpassing the $2 trillion mark in late February. Since the start of the year, TSMC shares have risen 22% in value. Naturally, TSMC’s shares can’t compete with NVIDIA’s dynamic growth. However, TSMC’s shares are justifiably increasing in value as the company produces the computing accelerator chips for NVIDIA.

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