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Across international equity markets in the second quarter of 2026, AI-related semiconductor names drove Taiwan and South Korea to outperform a mixed field of developed and emerging peers.
Against that backdrop, Taiwan Semiconductor Manufacturing Company (NYSE: TSM), the world's largest dedicated chip foundry with approximately 70% market share, raised its revenue outlook after reporting strong demand for its semiconductor manufacturing services, particularly in AI and high-performance computing chips.
Diamond Hill Capital's International Fund, a vehicle of First Eagle Investment Management, cited TSM as a notable contributor to performance in its Q2 2026 investor letter.
AI demand and the regional read-through The demand environment for advanced semiconductors reshaped regional equity flows in the quarter. Taiwan and South Korea pulled emerging markets ahead of developed-market peers.
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