TSMC Surges to Top 10 Most Valuable Companies Amid AI Boom

Taiwan Semiconductor Manufacturing Co. has reentered the world's top 10 most valuable companies as its stock surged to record levels, driven by optimism in artificial intelligence. The chipmaker's market capitalization hit a record high of $634 billion after a 14% rally last week, with analysts expecting further growth due to surging AI-related revenue and strong pricing power. TSMC's revenue rose 9.4% in January-February, fueled by demand for high-end chips in AI, offsetting potential iPhone sales slowdown. The company's overseas expansion and bullish options market sentiment also contribute to its positive outlook.