Staff writer, with CNA
Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) American depositary receipts (ADRs) rose over 4 percent in the US overnight, but its spot in the global market capitalization rankings fell one notch to No. 7, according to data released by companiesmarketcap.The data showed shares in aerospace firm Space Exploration Technologies Corp (SpaceX) jumped almost 20 percent to overtake TSMC for sixth place on Monday in the second trading session following its initial public offering (IPO), the biggest-ever in the world.On Monday, TSMC’s ADRs rose 4.12 percent to close at US$441.40 with its market cap rising to US$2.289 trillion on the announcement of a peace deal between the US and Iran slated to be signed on Friday as well as continued optimism over artificial intelligence development.
The logo of Taiwan Semiconductor Manufacturing Co is pictured outside of its office building in Hsinchu City on April 16.
SpaceX launched its IPO on Friday last week, raising about US$75 billion in the largest public offering on record. Its shares surged 19.22 percent on the first day of trading and gained another 19.6 percent on the second day to close at US$192.50, boosting the company’s market capitalization to US$2.519 trillion.That pushed SpaceX ahead of TSMC and within striking distance of fifth-ranked Amazon.com Inc, which had a market capitalization of US$2.646 trillion, according to the data.
