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Benzinga
Benzinga
Business
Anusuya Lahiri

Taiwan Semiconductor Lifts Outlook After Blowout Quarter, CEO Says AI Signals From Clients Are 'Very Strong'

Taiwan Semiconductor Semiconductor Taiwan Semiconductor Manufacturing Co TSM CC Wei Artificial Intelligence Nvidia
Tainan,,Taiwan-,September,30,,2021:,Taiwan,Semiconductor,Manufacturing,Company,(tsmc)

Taiwan Semiconductor Manufacturing Co (NYSE:TSM) stock gained on Thursday after the contract chipmaker delivered third-quarter results that blew past analyst expectations, driven by global demand for its advanced processor technologies essential for artificial intelligence applications.

As a key supplier to tech giants like Nvidia (NASDAQ:NVDA) for its graphics processing units (GPUs) and Apple (NASDAQ:AAPL) for its smartphones, the company’s strong results reflect its critical role in the industry ecosystem. The company also provided an optimistic revenue forecast for the fourth quarter.

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