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.
This post was last modified on 03/04/2024