1. TSMC shares surged to a record high driven by strong AI-related demand; 2. Morgan Stanley raised its price target for TSMC to NT$1,080, citing optimism about AI chip growth; 3. The rally reflects broader market confidence in semiconductor companies benefiting from AI advancements.

➀ Intel has engaged Morgan Stanley and other advisors to help defend against activist investors. ➁ Morgan Stanley has a history of working with Intel, including on the 2022 spinoff of Mobileye. ➂ The move comes as Intel faces challenges in the AI market and has recently announced significant job cuts and a suspension of dividends.