Bernstein has revised TSMC's target price upward, from NT$2,780 to NT$3,300, on the grounds that its current valuation still lags behind that of its industry counterparts. The research firm highlighted that, amid the AI boom, the CPU market is poised for accelerated growth, potentially emerging as a fresh catalyst for TSMC. Projections indicate that by 2027, TSMC's CPU-related revenue could surge to the higher end of the US$30 billion spectrum, constituting a substantial 10%-20% of its total revenue. At that juncture, CPUs are expected to rival AI accelerators, such as GPUs and ASICs, in their contribution to chip revenue.