TSMC stock rises to 52-week high after Nvidia announces $150 billion annual spending plan in Taiwan and new Taipei headquarters by 2030

Taiwan Semiconductor Manufacturing Co. (TSMC) shares rose 2% in morning trading Wednesday to a fresh 52-week high, reaching $427.96 (up 3.8%), after Nvidia chief Jensen Huang announced the chipmaker plans to spend about $150 billion a year in Taiwan and build a new Taipei headquarters ready by 2030.

Taiwan's overall market value climbed to about $4.89 trillion, nearly matching India's $4.92 trillion, with TSMC's stock up more than 44% this year as a key beneficiary of surging demand for advanced chips.

Taiwan regulators loosened limits on how much domestic funds can hold in a single stock, a rule change that could channel more than $6 billion into the market and favors dominant names such as TSMC, which carries a large weight in the TAIEX index.