Taiwan Semiconductor Manufacturing Company (TSMC) has reached a trillion-dollar valuation, with shares hitting a record high in Taipei and US trading. Strong Q2 earnings, fueled by AI demand and capex, have propelled their growth, serving as primary AI chip supplier to tech giants like Apple, Nvidia, and Qualcomm.

TSMC leaders remain optimistic about continued growth in the second half of the fiscal year, citing robust AI and HPC-related demand. The company reported a 38% revenue increase year-over-year last quarter, with a 12% revenue increase and 10% net income jump from Q1. The $1 trillion valuation follows Nvidia’s achievement of a $4 trillion valuation earlier this month.

Read more at Yahoo Finance: Chip giant TSMC is the newest member of the $1 trillion market-cap club