<p>越来越多的金融市场成员目前认为，台积电在 2026 年的表现可以超越英伟达。其背后的逻辑相当简单：尽管英伟达作为全球高科技人工智能处理器的开发者保持着控制权，但其产品在很大程度上是由台积电生产的。因此，台积电在整个人工智能芯片供应链中占据了有利地位，从而在股市中获得了大量关注。在过去六个月中，台积电的股票回报显著高于英伟达。与英伟达的股价上涨受限不同，台积电则享受到了对先进半导体设备需求上升和进一步增长强劲前景的好处。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.techi.com/wp-content/uploads/2026/02/image-17.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.techi.com/wp-content/uploads/2026/02/image-17.jpeg"/></p>
<h2>台积电在人工智能繁荣中的重要地位</h2>
<p>尽管英伟达是全球最强人工智能处理器的设计持有者，但并不参与其制造。因此，该公司利用台积电将其设计图转化为可销售的硅，使台积电成为国际人工智能制造体系中不可或缺的关键元素。此外，英伟达只是台积电客户群中的一部分。大多数知名半导体设计公司，如博通、超威半导体、高通和苹果，都依赖台积电提供的制造设施。他们的数据中心加速器、移动系统单芯片和个人计算平台，均由硅制成，涉及人工智能的多种应用。这一庞大的客户基础赋予了台积电英伟达所没有的战略优势。尽管英伟达的收入主要依赖于对人工智能数据中心基础设施的资本支出水平，但台积电的收入来源则来自技术市场的不同领域。因此，随着人工智能渗透到各个行业，台积电不易受到特定芯片设计师口味所引发的市场变化的影响。</p>
<h2>2026 年强劲的增长前景</h2>
<p>台积电预计其 2026 年以美元计的收入将增长近 30%。这一趋势受到市场对公司最先进光刻节点的需求增加的推动，这些节点用于生产人工智能加速器、高性能计算单元和新一代消费设备。此外，企业披露的信息可能提供的上行空间可能更大。生产能力的持续增加，加上预计高价的先进工艺技术，将使台积电在需求保持强劲的情况下实现远高于当前预测的增长数字。这使得台积电的未来相对比一些过于狭隘的人工智能专家更具可预测性。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.techi.com/wp-content/uploads/2026/02/image-66.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.techi.com/wp-content/uploads/2026/02/image-66.png"/></p>
<h2>评估使台积电优于英伟达</h2>
<p>另一个吸引投资者关注台积电的因素是相对估值。与台积电相比，英伟达的估值非常高，收入倍数显著增加，这表明市场对强劲增长的期望；这放大了上行空间。因此，与台积电相比，英伟达在实现意外利润的能力上受到限制。然而，预计英伟达在短期内的增长速度会更快。分析师预计本财年的收入和盈利将显著增长，但这些已经在市场中反映出来。相反，台积电的交易倍数相对较低，但其增长前景健康。合理的估值与蓬勃的需求相结合，使其股票对长期投资者更具吸引力。</p>
<h2>结论：台积电在 2026 年可能超越英伟达</h2>
<p>如果台积电在 2026 年实现约 1590 亿美元的预估收入，并仍保持类似的估值倍数，其股价可能会相比当前水平大幅上涨。这一可能的行动路径得到了产能增加、定价杠杆增强和长期人工智能相关投资的支持。正如《Motley Fool》的技术分析师 Harsh Chauhan 所言，台积电处于整个人工智能芯片供应链的中心。该公司不需要在竞争的芯片设计公司之间做出选择；相反，它提供了大多数公司的制造需求。台积电为那些对当前市场趋势关注较少、更加关注长期投资的投资者提供了独特的机会。它为人工智能革命提供了重要的曝光，提供了持续的增长，并具有更为平衡的风险特征。在这方面，台积电在 2026 年实现更高股本回报的机会相较于英伟达更为合理。</p>

标普半导体 ETF - SPDR

2 倍做多台积电 ETF - Direxion

2 倍做多 TSM ETF - GraniteShares

<p>在金融市场上，越来越多的共识认为，台湾半导体制造公司（TSMC）可能在 2026 年前超越英伟达（Nvidia）。TSMC 在人工智能芯片供应链中扮演着关键角色，为包括英伟达在内的多家客户生产芯片。TSMC 预计到 2026 年，收入将增长近 30%，这主要得益于对先进半导体设备的需求。相比之下，英伟达的高估值限制了其利润潜力。分析师认为，TSMC 较低的估值和强劲的增长前景使其成为更具吸引力的长期投资，可能在 2026 年前带来更高的股本回报</p>

<p>A growing number of members of the financial market are currently of the opinion that Taiwan Semiconductor Manufacturing Company can outperform Nvidia in performance in the year 2026. The logic behind it is simple enough: whereas Nvidia stays in control due to being the developer of the high-tech AI processors in the world, its products are being produced by TSMC to a large extent. Thereby, TSMC is advantaged by an omnipresent nature throughout the AI chip supply chain, and therefore gains lots of traction in equity markets. The TSMC equities have shown significantly higher returns compared to Nvidia in the last six months. Unlike the Nvidia, which has had a restricted upward mobility on its share prices, TSMC has enjoyed the benefits of a rising demand of advanced semiconductor devices and strong prospects of further growth.</p>
<div class="lb-trans"><p>越来越多的金融市场成员目前认为，台积电在 2026 年的表现可以超越英伟达。其背后的逻辑相当简单：尽管英伟达作为全球高科技人工智能处理器的开发者保持着控制权，但其产品在很大程度上是由台积电生产的。因此，台积电在整个人工智能芯片供应链中占据了有利地位，从而在股市中获得了大量关注。在过去六个月中，台积电的股票回报显著高于英伟达。与英伟达的股价上涨受限不同，台积电则享受到了对先进半导体设备需求上升和进一步增长强劲前景的好处。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.techi.com/wp-content/uploads/2026/02/image-17.jpeg" alt="" original-src="https://www.techi.com/wp-content/uploads/2026/02/image-17.jpeg"/></p>
<h2>The Essential Place of TSMC in the AI Boom in the Biosphere</h2>
<div class="lb-trans"><h2>台积电在人工智能繁荣中的重要地位</h2>
</div><p>Even though Nvidia is the design holder of the strongest AI processors in the world, it is not involved in their manufacturing. The company thereby uses TSMC to convert its schematics into saleable silicon, making TSMC a key element that cannot be sacrificed in the international AI manufacturing system. Moreover, Nvidia makes only a part of the range of customers that TSMC has. Most of the well-known semiconductor designers such as Broadcom, Advanced Micro Devices, Qualcomm and Apple rely on the fabrication facilities offered by TSMC. Their data-center accelerators, mobile SoCs, and personal computing platforms, which are all made of silicon, are involved in varying applications of artificial intelligence. This large base of clients gives TSMC strategic privileges that Nvidia does not have. Although the income generation of Nvidia largely depends on the level of capital expenditure on AI data-centers infrastructure, TSMC has income streams that are generated in different branches of the technological market. Therefore, with AI embracing various industries, TSMC is not susceptible to market changes that can be explained by the taste of specific chip designers.</p>
<div class="lb-trans"><p>尽管英伟达是全球最强人工智能处理器的设计持有者，但并不参与其制造。因此，该公司利用台积电将其设计图转化为可销售的硅，使台积电成为国际人工智能制造体系中不可或缺的关键元素。此外，英伟达只是台积电客户群中的一部分。大多数知名半导体设计公司，如博通、超威半导体、高通和苹果，都依赖台积电提供的制造设施。他们的数据中心加速器、移动系统单芯片和个人计算平台，均由硅制成，涉及人工智能的多种应用。这一庞大的客户基础赋予了台积电英伟达所没有的战略优势。尽管英伟达的收入主要依赖于对人工智能数据中心基础设施的资本支出水平，但台积电的收入来源则来自技术市场的不同领域。因此，随着人工智能渗透到各个行业，台积电不易受到特定芯片设计师口味所引发的市场变化的影响。</p>
</div><h2>Robust Growing Outlook for 2026</h2>
<div class="lb-trans"><h2>2026 年强劲的增长前景</h2>
</div><p>TSMC anticipates a growth of close to 30% in its 2026 revenue in U.S. dollars. This trend is driven by increased market demand of the most advanced lithographic nodes of the company that are utilized in producing AI accelerators, high-performance computing units, and new-generation consumer devices. In addition, there can be more upside than the advice that corporate disclosures can provide. The continued increase in production capacity coupled with the expected high price of the state-of-the-art process technologies will put TSMC in a position to realize growth figures much higher than present forecasts provided demand remains as robust as it currently I t makes the future of TSMC relatively more predictable than that of several artificial-intelligence experts that are too narrow-minded.</p>
<div class="lb-trans"><p>台积电预计其 2026 年以美元计的收入将增长近 30%。这一趋势受到市场对公司最先进光刻节点的需求增加的推动，这些节点用于生产人工智能加速器、高性能计算单元和新一代消费设备。此外，企业披露的信息可能提供的上行空间可能更大。生产能力的持续增加，加上预计高价的先进工艺技术，将使台积电在需求保持强劲的情况下实现远高于当前预测的增长数字。这使得台积电的未来相对比一些过于狭隘的人工智能专家更具可预测性。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.techi.com/wp-content/uploads/2026/02/image-66.png" alt="" original-src="https://www.techi.com/wp-content/uploads/2026/02/image-66.png"/></p>
<h2>Assessment Makes TSMC better than Nvidia</h2>
<div class="lb-trans"><h2>评估使台积电优于英伟达</h2>
</div><p>Another factor that would lead to investor interest in TSMC is relative valuation. Nvidia is very expensive with a significant increase in revenue multiple, as compared with TSMC, which indicates market hopes of a strong growth; this magnifies upside margin. Thus, the ability to make unforeseen profits is limited in the case of Nvidia compared to TSMC. However, Nvidia is estimated to be growing at a higher pace in the short-term period. The analysts anticipate significant growth in the revenues and earnings of the incumbent fiscal year, but they are already priced in the market. On the contrary, TSMC is trading at a relatively low multiple, but it has a healthy growth profile. The combination of sound valuation and booming demand makes its equity more attractive to long-term investors.</p>
<div class="lb-trans"><p>另一个吸引投资者关注台积电的因素是相对估值。与台积电相比，英伟达的估值非常高，收入倍数显著增加，这表明市场对强劲增长的期望；这放大了上行空间。因此，与台积电相比，英伟达在实现意外利润的能力上受到限制。然而，预计英伟达在短期内的增长速度会更快。分析师预计本财年的收入和盈利将显著增长，但这些已经在市场中反映出来。相反，台积电的交易倍数相对较低，但其增长前景健康。合理的估值与蓬勃的需求相结合，使其股票对长期投资者更具吸引力。</p>
</div><h2>Conclusion TSMC Could Outperform in 2026</h2>
<div class="lb-trans"><h2>结论：台积电在 2026 年可能超越英伟达</h2>
</div><p>In case TSMC reaches its estimated revenue of about USD –159 billion in 2026 and still maintains similar levels of valuation multiples, its stock value may rise by a substantially large margin compared to current rates. This possible course of action is strengthened by augmentation in capacity, fortified pricing leverage, and long-term AI-related investment. TSMC, as technology analyst Harsh Chauhan of The Motley Fool, has been positioned in the middle of the entire AI chip supply chain. The company does not need to choose between rival chip design companies; instead, it provides most of their manufacturing requirements. TSMC offers a unique offer in the sphere of AI to those investors who are less concerned with current market trends and more focused on long-term investment. It provides a significant exposure to the AI revolution, provides a consistent growth, and has a way more balanced risk profile. In this regard, TSMC has a more reasonable chance of producing higher equity returns by 2026 compared to Nvidia.</p>
<div class="lb-trans"><p>如果台积电在 2026 年实现约 1590 亿美元的预估收入，并仍保持类似的估值倍数，其股价可能会相比当前水平大幅上涨。这一可能的行动路径得到了产能增加、定价杠杆增强和长期人工智能相关投资的支持。正如《Motley Fool》的技术分析师 Harsh Chauhan 所言，台积电处于整个人工智能芯片供应链的中心。该公司不需要在竞争的芯片设计公司之间做出选择；相反，它提供了大多数公司的制造需求。台积电为那些对当前市场趋势关注较少、更加关注长期投资的投资者提供了独特的机会。它为人工智能革命提供了重要的曝光，提供了持续的增长，并具有更为平衡的风险特征。在这方面，台积电在 2026 年实现更高股本回报的机会相较于英伟达更为合理。</p>
</div>

Will TSMC Stock Beat Nvidia by 2026? Revenue & Valuation Outlook

TECHi

2 倍做多 NVDA ETF - T-Rex

英伟达期权收益策略 ETF - YieldMax

费城交易所 半导体 ETF - iShares

半导体 3 倍做多 - Direxion

2 倍做多英伟达 ETF - GraniteShares

2 倍做多 TSM ETF - Leverage Shares

2 倍做多英伟达 ETF - Direxion

半导体 ETF - VanEck Vectors

台积电

英伟达

台积电的股票能否在 2026 年前超过英伟达？收入和估值的前景