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7. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Number of Hedge Fund Holders: 156  

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) makes and sells integrated circuits and semiconductors. Latest reports indicate that ByteDance, the parent firm of social media giant TikTok, has set up a deal with Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) to mass produce two AI chips.

These chips, designed jointly by both firms, could hit production within the next two years. The production of the chips is aimed at reducing the reliance of the Chinese internet technology company on American chipmaker NVIDIA. The latter currently provides chips to ByteDance for developing and operating AI models. However, the US has banned the export of NVIDIA chips to China in recent months.