Taiwan-based TSMC, the world’s leading chip manufacturer, has once again become the most valuable Asian company, surpassing China’s Internet giant Tencent in terms of market value.Artificial intelligence technologies increase chip demand
Bloomberg states that in May 2023, TSMC’s shares increased by about 6 percent, raising the company’s capital to approximately $450 billion. Shares of TSMC rose amid rising demand for artificial intelligence technologies that require high-performance chips to operate. Another factor is the support given to the semiconductor industry by authorities in various countries, including the USA.
Tencent’s market capitalization, which until recently topped the list of Asia’s largest companies, has risen 7.4 percent since the start of 2023 and was virtually unchanged last month amid the slow recovery in the Chinese economy. As of May 22, 2023, Tencent’s capital was approximately $405 billion.
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