TSMC shares rose about 5% to a fresh 52-week high after Nvidia chief Jensen Huang said the chipmaker planned to invest around $150 billion a year in Taiwan.

TSMC (Taiwan Semiconductor Manufacturing Co.) stock traded at $438.47 and touched $443.18 intraday, with U.S.-listed shares up 4.8% at one point on Monday morning.

Nvidia chief Jensen Huang announced last week that the chipmaker planned to invest around $150 billion a year in Taiwan, signaling TSMC's continued centrality to Nvidia's advanced AI chip plans.

The rally was tied mainly to company-specific news and Taiwan's growing importance in the AI supply chain, with broader markets little changed during the same period.