TAIPEI (Taiwan News) — Taiwan Semiconductor Manufacturing Co. shares hit record levels on Thursday, setting both intraday and closing highs.

TSMC’s shares traded as high as NT$1,370 during the day and closed at NT$1,365, up NT$40, or 3.02%. The company’s US-listed shares also reached historic levels on Wednesday, trading intraday at US$290.46 and closing at US$288.47, an increase of 3.29%, according to CNA.

The stock’s gains lifted TSMC’s market capitalization to NT$35.39 trillion, contributing 321 points to the benchmark Taiwan Capitalization Weighted Stock Index. The TAIEX ended Thursday at 26,378.39, also setting record intraday and closing highs.

Analysts said strong demand for artificial intelligence infrastructure is supporting TSMC. Reports indicate OpenAI CEO Sam Altman recently visited Taiwan to meet with TSMC and Foxconn, discussing the US-backed AI project Stargate and OpenAI’s plans for self-developed AI chips.

Observers view these developments as positive for TSMC’s outlook.