TSMC Stock Surges Chipmaker’s 54% Profit Jump Fuels AI Demand and Nvidia Rally
Contract chipmaker TSMC posted a 54% jump in quarterly profit, beating Wall Street estimates and raising its forecast for 2024 revenue growth amid surging AI demand.
TSMC’s Upbeat Outlook Boosts Nvidia and Chip Stocks
The market’s reassurance following ASML’s dismal sales forecast and the outlook boost from Nvidia and Apple revived hopes for an AI boom. TSMC’s US-listed shares climbed as much as 12.5%.
