TSMC regains US$500 billion market capAI RUSH: Investors, including Cathie Wood, remain upbeat about AI, and TSMC is seen as a key enabler for its growth, given its technology leadership, an analyst said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) regained its US$500 billion market capitalization after investors ramped up bets on tech leaders best placed to ride an anticipated artificial intelligence (AI) boom. Asia’s most valuable company gained 3.31 percent yesterday in Taipei trading, fueled also by hopes that a post-COVID-19 chip downturn is nearing an end. That took its gain to 32.22 percent so far this year, cementing its position among the world’s 10 most valuable corporations after overtaking Visa Inc last month. TSMC’s gains contributed about 160 points alone to the TAIEX yesterday, which closed up 261.23 points, or 1.54 percent, at 17,216.60,

Source: Taipei Times June 19, 2023 18:38 UTC