We recently published a list of 15 AI news stories that hit the internet this week. In this article, we’ll take a look at where Taiwan Semiconductor Manufacturing Co., Ltd. (NYSE:TSM) stands with respect to other AI news that hit the internet this week.
AI trends are sweeping markets around the world. On November 14, popular social media application TikTok, owned by Chinese company ByteDance, announced that Symphony Creative Studios, the generative AI video creation platform developed by the company, is now available to all advertisers. The launch is part of a larger plan by the Chinese tech giant to beef up its advertising business, Reuters reports. According to the company’s press release, some of the AI features included in the new platform will convert text input into video, generate previews that can be edited to complete the content, remix, create digital avatars, and translate. and so on.
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Meanwhile, Taiwan-based Foxconn, one of the world’s largest electronics contract manufacturers, expects strong growth in its artificial intelligence server business next year and plans to expand into several countries amid heightened trade tensions between the two countries. announced that it will increase investment in US and China. According to a Reuters report, the company’s chairman, Young Liu, said after the quarterly results that the company is keeping a close eye on what policies Donald Trump will implement as US president. He added that Foxconn’s factories in Wisconsin and Texas have seen steady sales growth due to strong demand for AI servers, and the outlook for the company’s U.S. business is positive.
Also read: BlackRock’s 30 Most Important AI Stocks and Beyond the Tech Giants: 35 Opportunities for Non-Tech AI.
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Close-up of a complex network of integrated circuits used in logic semiconductors.
Market capitalization: $851 billion
Taiwan Semiconductor Manufacturing Company (NYSE:TSM) manufactures and sells integrated circuits and semiconductors. On November 15, the U.S. government announced that it had finalized a CHIPS Act incentive agreement with TSM. The agreement with TSM will spur $65 billion in private investment, build three facilities in Arizona and create tens of thousands of jobs by the end of the decade, according to a statement released by the White House. That’s what it means. This will be the largest foreign direct investment in a greenfield project in U.S. history.
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