Third Point, hedge fund billionaire Daniel Loeb’s investment firm, increased its Taiwan Semiconductor Manufacturing Co. stake by 67% in the second quarter to 460,000 shares as of June 30, from 275,000 at the end of March, according to its latest 13F filing. TSMC reported July revenue of NT$467.58 billion, up 44.7% from a year earlier and 5.6% from June, while revenue for the first seven months of 2026 rose 37% to NT$2.872 trillion. Second-quarter net income jumped 77.4% to NT$706.56 billion, beating the NT$632.64 billion analyst estimate, and revenue increased 36% to NT$1.27 trillion. Strong demand for AI, high-performance computing and emerging AI agents prompted TSMC to raise its 2026 capital-spending forecast to $60 billion-$64 billion. The company expects third-quarter 2026 revenue of $44.6 billion-$45.8 billion, with gross and operating margins of 65%-67% and 56%-58%, respectively, based on an exchange rate of NT$32 per dollar. TSMC also plans to produce three chips for Xiaomi Corp. and reportedly plans a $6.3 billion image-sensor plant in Kumamoto, Japan, with Sony Group Corp. Its Arizona operations generated about NT$36.1 billion in cumulative first-half profit, more than double the full-year 2025 figure. TSM shares were down 0.57% at $415.14 on Monday. The stock remains 12.8% above its 200-day SMA (simple moving average) but below its 20-day and 50-day averages, with RSI (relative strength index) at 48.79, indicating neutral momentum. Analysts give the shares a Buy rating and an average price target of $552, while the stock’s 31.1-times P/E ratio reflects a premium valuation relative to peers. TSMC gained 82.95% over the past year, trailing the selected peer-group average of 238.02%, led by Micron’s 698.58% gain.