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Right now, Taiwan Semiconductor trades at a price-to-earnings (P/E) multiple of 32.2. As seen in the chart below, the company's valuation has surged dramatically over the last 12 months and its P/E is hovering near 52-week highs. There's a lot to choose from, but these are both great companies.

Chip and data center specialist Nvidia (NASDAQ: NVDA) has emerged as the king of the artificial intelligence (AI) realm. Quarter after quarter, the company continues to defy expectations, set revenue and profit records, and provide investors with a laundry list of such good news that it's hard to keep track of it all.