We recently compiled a list of the 15 AI News Updates You Might Have Missed. In this article, we are going to take a look at where Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) stands against the other AI stocks you might have recently missed.
Artificial intelligence has been making headlines even at political summits. For example, news agency Xinhua recently reported that Chinese President Xi Jinping attended the Group of 20 Summit in Rio de Janeiro recently, warning that artificial intelligence should not be a game of rich countries and the wealthy. The Chinese president also called for more international governance and cooperation on AI. During another appearance, Xi also referred to increasing tariffs on Chinese goods, terming it protectionism in the name of green and low-carbon development. Xi said the world economy should be characterized by openness.
Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.
Meanwhile, OpenAI CEO Sam Altman has joined the transition team of San Francisco Mayor-elect Daniel Lurie following the US election. Per news agency Reuters, Altman joins a growing list of tech executives taking a position in government and said on the occasion that he is excited to help the city where the AI startup started its journey. Bilal Mahmood, who is on the city’s board of supervisors, said that former business executives are experts in prioritization and metrics-driven governance, which can help the city return to the basics. He added that San Francisco’s problems stem from its inefficient technical infrastructure, leading to delays in hiring and housing approvals, areas where tech executives are well-positioned to contribute.
Read more about these developments by accessing 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.
For this article, we selected AI stocks by combing through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A close-up of a complex network of integrated circuits used in logic semiconductors.
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Market Capitalization: $851 Billion
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) makes and sells integrated circuits and semiconductors. On November 18, news agency Reuters reported that Lai Ching-te, the President of Taiwan, had urged the European Union to sign an economic partnership agreement, noting it would boost cooperation in semiconductors. The move is part of a broader plan by Taiwan to seek investment from the EU. In return, TSM, the biggest chip firm in Taiwan, has already pledged to build a chip factory in Germany.
Overall TSM ranks 6th on our list of the AI stocks you might have recently missed. While we acknowledge the potential of TSM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than TSM but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.