TSMC Achieves Milestone to Asian Companies
(MENAFN) Taiwan Semiconductor Manufacturing Co. (TSMC), the world’s leading chip producer, has made history as the first Asian company to achieve a market capitalization of $1 trillion, according to recent trading data.
TSMC hit this milestone on Friday and has managed to sustain its valuation since then.
This remarkable growth, driven by the continuous global demand for advanced AI chips, has placed TSMC among the elite trillion-dollar market cap companies.
Alongside TSMC, the prestigious club includes major US tech firms like Nvidia, Apple, Microsoft, Google’s parent company Alphabet, Amazon, and Meta.
The only other non-US company to join this group is Saudi Aramco, the national oil giant of Saudi Arabia.
TSMC plays an indispensable role in the global tech supply chain, producing semiconductors for several prominent American companies, such as Nvidia and Apple.
According to a news agency, in 2024, North American customers are expected to account for approximately 70% of TSMC’s total revenue.
Last week, the company revised its annual revenue forecast, predicting a 30% increase.
In January, US President Donald Trump threatened to impose tariffs of up to 100% on foreign-made semiconductors, including those produced in Taiwan, as part of an effort to revive domestic manufacturing.
In March, TSMC responded by announcing a significant increase in its investment in the US, committing an additional $100 billion to its already pledged $65 billion for advanced semiconductor production in Phoenix, Arizona.
The company referred to this investment as the “largest-ever single foreign direct investment in US history.”
When Trump's proposed "Liberation Day" tariffs were revealed in April, semiconductors were notably excluded from the list.
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