A US financial analysis says TSMC's US-listed shares could climb another 22%, good news for chip investors betting on the AI buildout.

• TSMC's US shares are up about 35% this year, far ahead of the Nasdaq, but still more than 10% below their record high.
• The dip is being called a good entry point, since TSMC makes the advanced chips going into AI data centers.
• TSMC controls over 70% of the world's contract chipmaking market, with Apple, Nvidia and AMD as customers.
• Nvidia expects the five biggest cloud companies to spend around $1.3 trillion on data centers in 2027, up from $800 billion next year.
• The 22% figure comes from TSMC returning to its usual year-end valuation level — it is a forecast, not a promise.

Outlook: Investors may start pricing in 2027's AI spending boom early, which would push TSMC shares toward a new record.