TSMC became Asia’s most valuable listed company during the 2024 AI-driven rally.
Taiwan Semiconductor Manufacturing Company, commonly called TSMC, rose to that position as investors valued its role in producing advanced chips for leading technology companies. Its market capitalization exceeded that of other major Asian listed businesses during the surge in demand for artificial-intelligence hardware.
TSMC is primarily a contract chip manufacturer, or foundry. Unlike an integrated device maker that designs and manufactures its own branded processors, TSMC manufactures chips designed by customers. Its customers have included companies such as Apple and Nvidia.
The company was founded in Taiwan in 1987 by Morris Chang. Its business model helped establish the modern semiconductor-foundry industry, in which specialized manufacturers serve many chip-design companies. The company’s market value remains sensitive to technology demand, chip cycles, and geopolitical risk around Taiwan.