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Dow Jones Rises After Jobless Claims Jump; Nvidia Chipmaker Rallies On Earnings

Stock Market Today: The Dow Jones rose Thursday on a jump in weekly jobless claims. Nvidia chipmaker TSMC rallied on earnings. Read More...

TSMC rides AI demand to raise revenue forecast, says no to US joint venture

TAIPEI (Reuters) -Taiwan’s TSMC, the world’s largest contract chipmaker, raised its full-year revenue forecast on Thursday given surging demand for chips used in artificial intelligence, and rejected the idea of a joint venture factory in the United States. Taiwan Semiconductor Manufacturing Co Ltd (TSMC), a major Apple Inc and Nvidia supplier, has benefited from the global AI boom that has helped it weather the tapering off of pandemic-led electronics demand. The bellwether for the chip industry earlier on Thursday posted net profit that beat market expectations.

Reuters

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