We recently published a list of 14 AI news updates that Wall Street is monitoring. In this article, we’ll take a look at where Taiwan Semiconductor Manufacturing Co., Ltd. (NYSE:TSM) stands on other AI news updates that Wall Street is monitoring.
Just days after Donald Trump won the hotly contested election for America’s highest office, one of his most prominent backers, Elon Musk, announced that xAI, the AI startup he founded in 2023, will be worth $5 billion. We received further good news that we have raised $2. round. The latest funding round brings the startup’s valuation to more than $50 billion. News publication The Wall Street Journal reported that Valor Equity Partners, Sequoia Capital and Andreessen Horowitz participated in the financing, as well as Qatar’s sovereign wealth fund. The investors backed the startup with $6 billion in funding earlier this year.
Visit Goldman Sachs’ 10 Best AI Data Center Stocks and 10 Hottest AI Stocks to read more about these trends.
xAI has developed Grok, one of the world’s leading AI chatbots. This rivals the performance of chatbots from tech giants with far greater resources. The company also manages Colossus, one of the world’s most powerful supercomputers. The supercomputer is expected to be fully operational by the end of this year, and Musk plans to scale the effort’s core hardware to 200,000 GPUs. Last year, the startup also released PromptIDE, an integrated development environment designed for rapid engineering and interpretability research.
Also read: BlackRock’s 30 Most Important AI Stocks and Beyond the Tech Giants: 35 Opportunities for Non-Tech AI.
In this article, we selected AI stocks by examining news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.
Why are we interested in stocks that hedge funds invest in? The reason is simple. Our research shows that by mimicking the top stock picks of the best hedge funds, you can outperform the market. Our quarterly newsletter strategy selects 14 small- and large-cap stocks each quarter and has returned 275% since May 2014, outperforming the benchmark by 150 percentage points (Learn more ).
Close-up of a complex network of integrated circuits used in logic semiconductors.
Number of hedge fund holders: 158
Taiwan Semiconductor Manufacturing Co., Ltd. (NYSE:TSM) manufactures and sells integrated circuits and semiconductors. On November 21, financial news platform Forex Live reported that TSMC plans to build one new manufacturing facility in Taiwan every year for the next 10 years, citing comments from Taiwan’s economy minister. The minister further said that Taiwan needs to ensure sufficient power and water resources to support these facilities. The minister also emphasized that TSMC’s new factory in Kaohsiung, southern Taiwan, is ready and will be operational soon.
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