AI boom reshapes Wall Street as TSMC joins trillion-dollar club
chip giant TSMC into the elite club of the world's most valuable companies is further proof that the generative AI revolution is shaking up Wall Street.
TSMC, listed in both Taiwan and New York, briefly broke the one trillion dollar market capitalization barrier on Monday, putting it ahead of Tesla as the seventh most valuable technology giant on the stock market.
Also on Monday, Alphabet, Apple and Meta all hit all-time highs.
The top ten of the world's most valuable companies is headed by Microsoft and Apple, closely followed by AI chip designer Nvidia.
Their global stock market valuations exceed three trillion dollars on Wall Street.
Alphabet and Amazon, which recently topped the two trillion dollar mark, follow in an ever-changing ranking.
The Saudi oil giant Aramco slipped into sixth place followed by Meta, TSMC and Tesla.
«The semiconductor industry is now the leading sector in the S&P 500,» noted CFRA analyst Angelo Zino recently.
«It's taken over the last 15 or 18 months. That shows you how much the world has changed.»
The explosion in worldwide demand for chips, boosted by the rise of computing-intensive generative AI, promises sustained expansion for the industry.
Chip-makers are not only attracting investors but also a host of government subsidies.
The Biden administration, for example, has granted tens of billions of dollars in financial support over several years to help build chip factories in the United States.
Worldwide sales of semiconductors, which include integrated circuits,
