Why Taiwan Semiconductor Manufacturing Stock Is Sinking Today

Taiwan Semiconductor Manufacturing (NYSE: TSM) stock is declining in Monday's trading following potentially significant news about competitive dynamics in the semiconductor industry. The company's share price was down 1.4% as of 3:30 p.m. ET and had been off as much as 2.8% earlier in the session.TSMC's valuation is moving lower today following news that Chinese tech giant Huawei is testing an artificial intelligence (AI) chip that could rival Nvidia's top semiconductors. Nvidia relies on TSMC to fabricate its semiconductor designs, and both companies occupy key positions in the broader AI hardware and tech race between the U.S. and China.Restrictions put in place by the U.S. officially bar Nvidia's high-end processors and advanced chips manufactured by TSMC from being sold into the Chinese market, but Huawei could be poised to give China a major step forward in the AI race with its new Ascend 910D processor.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool