TSMC fell 35 yuan, and its market value fell below 37 trillion yuan

U.S. artificial intelligence (AI) concept stocks have undergone a sharp correction. NVIDIA (NVIDIA), the leading AI chip manufacturer, fell more than 3.5%, and TSMC American Depositary Receipts (ADR) fell 2.9%. TSMC’s stock price weakened today, reaching 1,425 yuan, down 35 yuan, and its market value fell below NT$37 trillion.

The main reason is that the stock prices of NVIDIA and other artificial intelligence stars continue to fall, causing investors to worry that the stock prices are too high. At the same time, the market has also cast doubts on whether Wall Street's highly anticipated interest rate cuts will come true, further dragging down the stock market.

Investors have doubts about further interest rate cuts by the U.S. Federal Reserve (Fed), causing major U.S. stock indexes to fall across the board. Among them, AI concept stocks have sharply corrected, with NVIDIA falling more than 3.5%, Advanced Micro Devices (AMD) falling more than 4%, the Philadelphia Semiconductor Index falling 3.72%, and TSMC ADR falling 2.9%.

TSMC’s stock price simultaneously weakened today, reaching 1,425 yuan in early trading, down 35 yuan. Its market value shrank by 907.6 billion yuan, falling below the 37 trillion yuan mark and falling to 36.95 trillion yuan, affecting the market by about 281 points.

TSMC has observed that the demand for AI is stronger than expected. It is expected that US dollar revenue will grow by nearly 35% this year. TSMC Chairman and President Wei Zhejia recently said at the sports meeting that this year’s revenue and profits will hit a record high, not only this year, but every year in the future.