
Artificial intelligence (AI) chip players Nvidia (NASDAQ:NVDA) and Broadcom (NASDAQ:AVGO) gained on Thursday in tandem with the AI frenzy, with contract chipmaker Taiwan Semiconductor Manufacturing Co.’s (NYSE:TSM) upbeat quarterly earnings being the latest to reinforce investor optimism over the sector.
The Taiwanese chipmaker reported third-quarter results that exceeded analyst expectations, driven by strong global demand for its advanced processor technologies, which are critical to AI applications.