TSMC becomes Asia’s most valuable company

TSMC, the world’s largest contract chipmaker, has become Asia’s most valuable company with a market valuation exceeding $1 trillion. This surge is driven by strong demand for AI chips, with TSMC’s shares rising nearly 80% this year. The company’s success has boosted global chip stocks and attracted significant foreign investment to Taiwan’s stock market. TSMC’s performance reflects the broader AI-driven rally in the semiconductor industry, benefiting companies like Nvidia and Microsoft. Source Reuters