Taiwan’s stock market has surpassed the UK’s, climbing to the world’s seventh largest by market capitalisation. Bloomberg data shows Taiwanese equities hit $4.13 trillion on Thursday, edging out the UK’s $4.09 trillion. The jump reflects the AI chip boom that fuels demand for TSMC‑produced silicon. This shift places Taiwan ahead of South Korea and behind only the United States, China, Japan, Hong Kong, India and Canada.

TSMC, which accounts for 45% of Taiwan’s market cap, posted a record first‑quarter haul. Net income leapt 58% year‑on‑year to NT$572.5 bn (US$18 bn), while revenue rose 35% to NT$1.13 trn. The company’s shares have surged nearly a third this year, topping the market at an all‑time high. This performance underscores the strategic pivot of AI firms toward high‑end chip manufacturing.

Capital‑spending plans for 2024 hint at further expansion. TSMC targets the upper end of a $52 bn–$56 bn spend range, driven by Nvidia and other big‑tech clients demanding faster, denser processors. The surge also amplifies Taiwan’s influence in global supply chains, while the UK remains largely exposed only through ASML.

With South Korea’s market cap at $3.7 trn, the AI supercycle may soon lift Seoul beyond the UK. Investors eye Taiwan as a bellwether for semiconductor demand, while companies balance exposure between the chip titan and broader tech players. The latest data signals a re‑ranking of global equity power, rewarding high‑tech hubs over traditional blue‑chips today.