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TSMC Stock Jumps. The Nvidia Supplier's Earnings Are Boosting Other Chip Stocks Too.

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Taiwan Semiconductor Manufacturing reports a 57% jump in profit on strong demand for hardware to power AI systems.
The article discusses the significant rise in TSMC's stock price, which jumped by 9.8% following Nvidia's impressive earnings report. Nvidia, a key customer of TSMC, reported a 265% year-over-year revenue increase, largely driven by the demand for AI chips. This surge in Nvidia's performance positively impacted TSMC, as it is the primary manufacturer of Nvidia's advanced chips. The article highlights that TSMC's stock was also buoyed by the company's own strong earnings, with a 35% year-over-year revenue increase in the first quarter. Furthermore, TSMC's CEO, C.C. Wei, expressed optimism about future growth, particularly in AI, which is expected to drive demand for high-performance computing chips. The positive outlook from both Nvidia and TSMC has led to increased investor confidence in the semiconductor sector, particularly in companies like TSMC that are at the forefront of AI technology production.

Read the Full Yahoo Article at:
[ https://www.yahoo.com/news/m/4972413c-f974-325b-a4b3-8e962c700b48/tsmc-stock-jumps-the-nvidia.html ]