TSMC Hits $1 Trillion in Market Value on Relentless AI Rally

(Bloomberg) — Taiwan Semiconductor Manufacturing Co. briefly surpassed $1 trillion in market capitalization after Morgan Stanley joined a list of brokers boosting price targets on the chipmaker before its earnings.

TSMC ADRs shares jumped as much as 4.8% to touch the milestone just after the opening bell in New York on Monday, taking its share price increase this year to more than 80%. The Taiwanese chipmaker overtook Berkshire Hathaway Inc. earlier in June to become the world’s eighth most valuable company, based on its ADRs, which trade at a considerable premium to its Taipei-traded shares.