BEIJING, March 5 (AsianFin)—The stock price of giant chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) reached NT$730 (US$ 23) on Tuesday, marking its highest point since 1994. The company's market value hit NT$18.93 trillion at market close on Tuesday, with a 23.10% cumulative surge in its stock price since the beginning of 2024. A significant factor driving the rise in TSMC's stock price is the artificial intelligence (AI) wave, with the company currently holding a large number of orders from Apple and NVIDIA. Recently disclosed data indicates that NVIDIA contributed 11% of TSMC's revenue in 2023.