In this file photo, a photographer takes a picture beside a Taiwan Semiconductor Manufacturing Company (TSMC) logo during a quarterly report meeting in Taipei on April 26, 2007. (SAM YEH / AFP)

Taiwan’s biggest stock is so hot it added US$72 billion in just two days -- equal to swallowing Goldman Sachs Group Inc whole.

The chipmaker is worth more than US$410 billion, leapfrogging past US giants Johnson & Johnson and Visa Inc

Taiwan Semiconductor Manufacturing Co (TSMC) rose as much as 9.9 percent in Taipei on Tuesday, extending a stunning rally that’s made it the world’s 10th largest company. The chipmaker is worth more than US$410 billion, leapfrogging past US giants Johnson & Johnson and Visa Inc. Daily stock moves capped at 10 percent in Taiwan’s equity market.

It’s difficult to overstate the influence that TSMC wields on Taiwan’s financial markets. Making up almost a third of the local benchmark, it has single-handedly pushed the Taiex past a record that had stood for three decades.

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The latest boost to TSMC’s shares came after Intel Corp warned last week that its 7-nanometer chips are behind schedule and it may outsource their production. The US chipmaker is expected to funnel new business to TSMC, given its global lead in silicon fabrication and track record of making semiconductors for the world’s largest tech corporations.

A report on Monday suggested that Intel had placed orders with TSMC for 180,000 units of 6nm chips for 2021. Meanwhile, brokerages including Nomura Holdings Inc and Credit Suisse Group AG upgraded TSMC to the equivalent of buy.