From Reuters, October 17:
U.S. chip stocks rose before the bell on Thursday after industry bellwether TSMC's strong sales forecast fanned investor optimism about demand for processors used to power artificial intelligence applications.
Taiwan Semiconductor Manufacturing Co (2330.TW), the world's largest contract chipmaker, raised its expectation for annual revenue growth and said sales from AI chips would account for mid-teen percentage of its full-year revenue.The forecast from the leading producer of advanced AI chips reinforced investor confidence in the outlook for chipmakers whose market values have skyrocketed over the past two years due to a surge in chip spending by Big Tech.U.S.-listed TSMC shares rose 7%, with the company's market capitalization set to cross $1 trillion if premarket gains hold....
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Nvidia is changing hands at $139.89 up $4.17 (+3.07%) in premarket trade and if it catches a tailwind will surpass the intraday all-time-high of $140.76 after setting an ATH closing price, $138.07 on October 14.
