The Overlooked Infrastructure Play Quietly Winning the AI Boom

Taiwan Semiconductor Manufacturing (TSMC) is positioned as a major beneficiary of the AI infrastructure boom, with Q2 2026 revenue up 34% YoY and raised full-year guidance to over 40% growth. Despite underperforming the semiconductor sector this year (33% vs 68%), TSMC's strong earnings growth and reasonable 25x forward earnings valuation suggest potential 67% upside to $700 by 2028 as AI infrastructure spending accelerates.