TSMC shares hit a record high on Thursday after Morgan Stanley upgraded its price target for chipmaker Nvidia, citing continued strong demand for AI. TSMC is the world's largest advanced chip manufacturer and produces semiconductors for companies like Nvidia and Apple. Morgan Stanley raised its Nvidia price target and said it sees a very strong near-term outlook, fueled by AI demand. Nvidia benefits from the AI boom, with its GPUs powering large language models like ChatGPT that require massive processing power.