On March 19, Bloomberg published an article,TSMC is at risk of losing its position as Asia's largest company by market capitalization, which is likely to be replaced by Tencent, because investors are focusing on Tencent’s AI plan. Since this year,TSMC's stock price has fallen 11%, joining global chip stocks such as Nvidia lower., the reason is that the market is increasingly worried about the inflated valuation of the chip industry.
at the same time,Tencent's stock price rises about 30% in 2025, which narrowed the market value gap between the Internet giant and TSMC to about $109 billion, the smallest gap since late 2023.
On Wednesday, Tencent laid out plans to significantly increase spending on artificial intelligence infrastructure after reporting its fastest revenue growth since 2023.
Since February 24, according to exchange data compiled by Bloomberg,Global funds have been underweight TSMC shares, during this period, a total of NT$190.4 billion (approximately NT$42.2 billion) worth of TSMC stocks were sold. As of Wednesday, foreign investors' holdings of TSMC shares fell to 72.7%, the lowest level since late 2023.