Since early last year, it's become crystal clear that advancements in artificial intelligence (AI) are causing a paradigm shift in technology. Nowhere is that more evident than in the list of companies that are among the world's most valuable, measured in terms of market cap.

made headlines over the past year or so with its definitive moves in generative AI and is currently the only company with a market cap above $3 trillion. Apple has been toying with AI for years, and while it ceded its market cap crown to Microsoft, it continues to cling stubbornly to second place, worth $2.9 trillion. Nvidia has moved up the ranks quickly thanks to its industry-leading AI-centric computer chips, currently worth $2.3 trillion. Alphabet, Amazon, and Meta Platforms round out the other top 10 AI players, with market caps of between $2.1 trillion and $1.2 trillion.

With a market cap of roughly $789 billion (as of this writing), it seems clear that Taiwan Semiconductor Manufacturing (NYSE: TSM), often referred to as TSMC, is bucking for membership in this elite fraternity. Given the accelerating demand for the semiconductors needed for AI, TSMC's admittance might come sooner than later.

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Source Fool.com