Celebrate the Olympics with Red Robin’s Gold Medal Burger and Star-Spangled Spritzer 
Whale.io is airdropping 10M tokens 
Apple Reports $21.4 Billion Profit on $85.8 Billion Revenue in Strong Q3 2024 Performance 
How overcrowding impacts the world’s tourism hotspots 
2025’s Air Jordan 4 'Rare Air' to Debut Without Laser Uppers, Reverse Logos on AJ 3 
Nintendo's Switch Sales Halve, Profit Decline as New Console Launch Anticipated 
Domino’s Launches New Cheeseburger Pizzas, Bringing Burger Flavors to Pizza Lovers 
Apple Intelligence Spending Surges as Generative AI Features Set for Launch Later This Year 
University finances are in a perilous state – it’s the result of market competition and debt-based expansion 
DOJ Targets Nvidia: Antitrust Probes Heat Up Over AI Chip Market Dominance 
US Hits TikTok with Major Lawsuit for 'Massive-Scale' Privacy Violations Targeting Kids 
Huawei's R&D Facility in Guangzhou Nears Completion in September, Housing 5,000 Employees 
Sports and Music Tourism to Hit $1.5 Trillion by 2032, Driven by Major Events 
Pizza Hut Buffets Return: Iconic Dining Experience Revived at Select Locations 
Intel to Cut 15,000 Jobs Amid 85% Profit Decline, Lagging Behind AMD and Nvidia 
Jordan Brand And Casa 93 Collaborate on Air Jordan 1 Mid for Paris Flair 
Tesla Cybertruck Outperforms Ford F-150 in Extreme Uphill Towing Test 
Taiwan's TSMC has reached a record high, becoming Asia's most valuable company with a market value exceeding $1 trillion. This milestone follows strong second-quarter revenue and surging demand for AI-capable processors, positioning TSMC at the forefront of the AI-driven market rally.
TSMC Thrives as AI Demand Spurs Global Chipmaker Rally, Drawing $4.8 Billion in Foreign Investment
The AI frenzy has initiated a global rally in chipmaker equities. Nvidia, the AI poster child, is among the customers of Taiwan Semiconductor Manufacturing Co (TSMC), the world's largest contract chipmaker. TSMC has particularly benefited from the increasing demand for AI-capable processors, according to Reuters.
Taiwan's stock market, which TSMC dominates, has received $4.8 billion in foreign investment thus far this year. Nevertheless, HSBC indicates that Asian funds are still underweight in Taiwan, which implies that there may be additional space for inflow.
TSMC Shares Soar 80%, Becomes Asia's Most Valuable Firm with Market Value Exceeding $861 Billion
TSMC's shares have increased by nearly 80% this year, surpassing the benchmark Taiwan SE Weighted Index, which has increased by 35%. Apple is among TSMC's customers.
TSMC's Taipei-listed shares increased by over 2% to a record T$1,080 on July 11, elevating its market value to T$28 trillion ($861 billion) and establishing it as Asia's most valuable publicly traded company.
According to Dunya News, on July 8, the market value of TSMC's ADRs, initially listed on the NYSE in 1997, briefly increased to $1 trillion, a 4.8% increase from a record $192.79. The ADRs closed at $191.05 on July 10. TSMC's complete second-quarter earnings are scheduled to be reported on July 18.
AI Boom Boosts Chipmakers' Market Caps, TSMC and Nvidia Lead Global Equity Surge
AI-focused companies, primarily chipmakers, have experienced significant market capitalization increases this year, particularly in June.
Last month, Nvidia briefly surpassed Microsoft to become the most valuable company globally. Microsoft, Apple, and Nvidia all have market values exceeding $3 trillion.
TSMC's robust results bolstered global chip equities, resulting in a 2.4% increase in the Philadelphia semiconductor index to a record high on July 10.
"Optimism continues to grow around AI-related demand and potential pricing powers, as TSMC's position as leading foundry supplier should elevate earnings in 2025," said Daniel Tan, portfolio manager at Singapore-based Grasshopper Asset Management.
"In an industry facing increasing tight supply, TSMC's value has to appreciate further in 2025 as customers bid to get sufficient capacity allocation."
