Taipei, Jan 24, 2026, 22:59 GMT+8 — The market has closed.
- TSMC shares closed Friday 0.6% higher in Taipei, while its U.S.-listed ADR jumped 2.3%
- Taiwan’s president expressed interest in expanding chip investments in Arizona amid Washington’s push for increased domestic production
- New SEC filings revealed routine shifts on the board and asset transactions in December at the chipmaker
Taiwan Semiconductor Manufacturing Co’s shares climbed on Friday, wrapping the week up. The Taiwan market saw the stock rise 0.57% to close at NT$1,770, while the U.S.-listed ADR gained 2.29%, ending at $334.87. 1
Markets are closed for the weekend, shifting attention to factors that could sway TSMC stock come Monday: ongoing U.S. onshoring pressures, a trickle of corporate updates, and whether AI-driven earnings continue to support lofty valuations.
That’s crucial as the coming days ramp up event risk. Markets brace for a packed week featuring U.S. tech earnings and a Federal Reserve meeting. Meanwhile, chip stocks stay jittery, watching for signs that AI-related spending might be slowing or changing direction. 2
Taiwan President Lai Ching-te urged increased semiconductor investment in Arizona during a meeting Friday with U.S. Senator Ruben Gallego, describing TSMC’s Phoenix expansion as a result of Taiwan-U.S. industrial cooperation. Gallego called Taiwanese investment in Arizona, “especially TSMC,” “impressive” and expressed a desire “to continue to see that growth,” Reuters reported. 3
TSMC investors face a tricky balance with more U.S. capacity: it boosts supply security and wins political favor but raises concerns about execution risks and higher costs as the company grows beyond Taiwan.
SEC filings dated Jan. 23 revealed standard updates. One Form 6-K noted that TSMC North America replaced a departing director and added two new directors, all effective Jan. 23. Another 6-K covering month-end activity detailed a NT$2.1 billion fixed-income purchase and a NT$0.5 billion equity sale in December, with no new capital appropriations or bond issuances during the period. 4
TSMC’s top brass have been pushing back against ongoing concerns that AI demand might be overstated. At Davos, CEO C.C. Wei said the company is doing more than routine customer checks to ensure demand justifies its $52 billion-plus capital investment. He cautioned that a misstep here “would be a big disaster,” but ultimately concluded the demand appears solid. 5
The downside scenario is clear. Should cloud and consumer tech clients pull back on spending, or if AI server orders arrive unevenly following an initial surge, the sector could see a sharp repricing. That risk is heightened as supply chains are reshaped across borders, with geopolitical tensions never far from Taiwan’s leading company.
Taiwan trading picks back up Monday, with the TWSE open through Friday. In the U.S., all eyes turn to the Fed’s January 27-28 meeting. The tone on rates there could move high-multiple tech and chip stocks sharply. 6
