What Is 1 of the Best Artificial Intelligence Stocks to Buy Now?

Core Insights - The artificial intelligence (AI) sector has significantly benefited various companies, with Taiwan Semiconductor Manufacturing (TSMC) being a notable player in this space [1][4] - TSMC is recognized as a leading foundry for advanced semiconductor chips, crucial for AI applications, and has seen substantial revenue growth [4][6] Company Performance - TSMC reported a revenue of 989.9 billion New Taiwan dollars ($33.1 billion) in the third quarter, marking a 30% year-over-year increase [4] - The company's diluted earnings per share (EPS) grew by 39% year-over-year to 17.44 New Taiwan dollars ($2.92) [4] Investment Potential - TSMC is expanding its operations with a $165 billion investment in three new foundries in the U.S., along with packaging and R&D facilities, indicating strong future growth prospects [5][6] - The company's price-to-earnings (P/E) ratio is lower than that of competitors Nvidia and AMD, suggesting an attractive valuation for investors [5][6]