"TSMC Reaches Record High Amid Global Chip Rally and AI Optimism"

Taiwan Semiconductor Manufacturing Co. (TSMC) reached its highest-ever stock price, surging 5.2% to close at NT$725 in Taipei on Monday, amid a global rally in chip stocks driven by optimism about artificial intelligence. TSMC's market capitalization rose to $597 billion, positioning it closer to rejoining the world’s 10 most-valuable companies. The company, a key supplier to Apple Inc. and Nvidia Corp., is expected to benefit from the ongoing AI boom and anticipates a return to solid growth this quarter.