If you've been an investor for a while, you've likely heard the phrase "picks and shovels" when referring to a company. This moniker is given to a business that may not pursue a trend directly. Instead, it's giving its clients the tools they need in their efforts. When it comes to the artificial intelligence (AI) gold rush, there are a few picks-and-shovels companies that are excelling.

While many may point to Nvidia as the ultimate example, Taiwan Semiconductor Manufacturing (NYSE: TSM) supplies the chips that go into Nvidia's graphics processing units (GPUs). This notion that Taiwan Semi is akin to the pickax sellers in the gold rush is good, but it's a known example. As a result, the stock has shot up significantly this year.

However, most investors don't care about past performance and want to know if there's more left in the tank for Taiwan Semi's stock to rise. Let's find out.

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Source Fool.com