This is What Taiwan Semiconductor Manufacturing Company Limited (TSM) CEO Sees Happening

Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM ) is one of billionaire Ken Fisher's top high growth stock picks . TSM shares have gained more than 40% over the past six months and more than doubled over the past year.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), also known as TSMC, is working hard to meet the AI-driven demand for semiconductor chips, according to the company's CEO C.C. Wei. Speaking at the company's annual shareholder meeting on June 4, Wei noted that demand is so high, and that TSMC does not want to become the bottleneck in the AI supply chain.

The company is expanding its production capacity, with plans to build new factories in the US. It looks to invest $165 billion in the US production project. But Wei said it would take time before TSMC can meet customers' needs for US-based production.

As it expands production, TSMC has identified robots and autonomous vehicles as long-term growth drivers. According to the CEO Wei, TSMC will work hard to ensure that robots succeed. TSMC may raise prices for customers as component costs continue to rise.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the world's largest chip foundry. It manufactures a wide variety of semiconductor chips on a contract basis for customers like Apple, Qualcomm, Nvidia, and AMD.

While we acknowledge the potential of TSM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock .

READ NEXT: 10 Best Hot Stocks to Buy for June and 8 Best Defensive Stocks to Buy Amid Geopolitical Tensions .