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Chip stocks rally as TSMC forecasts strong AI demand for “many years.”


Chip stocks rally as TSMC forecasts strong AI demand for “many years.”

Optimism about AI demand in Taiwan Semiconductor Manufacturing Company's (TSM) stunning third-quarter earnings boosted chip stocks on Thursday. TSMC reported quarterly profit of 325.3 billion new Taiwan dollars ($10.1 billion), up 54% from a year earlier, beating Wall Street forecasts. The company also raised its full-year sales forecast: Sales rose 29% in 2024 compared to […]