One of the biggest opportunities among artificial intelligence (AI) investments is semiconductor stocks. Of course, some obvious opportunities include such powerhouses as Nvidia and Advanced Micro Devices. Both companies make chipsets called graphics processing units (GPUs), which play a critical role in developing generative AI applications.

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While Nvidia is considered the top player in the AI chip market, it utilizes TSMC's foundries for its chip manufacturing. Nvidia was TSMC's second-largest customer last year, accounting for 11% of the Taiwan-based foundry giant's revenue. This may lead investors to believe that TSMC's fortunes are dependent on Nvidia's.