Printed: Might 25, 2023 at 11:27 p.m. ET
By Yifan Wang
Shares of Taiwan Semiconductor Manufacturing Co. rose for a second day, buoyed by investor hopes that fast-developing artificial-intelligence applied sciences will drive a increase in international chip demand.
The inventory rose as a lot as 4.6% Friday and was lately 3.9% increased at 564.00 New Taiwan {dollars} (US$18.29). The positive aspects added to TSMC’s…
By Yifan Wang
Shares of Taiwan Semiconductor Manufacturing Co. rose for a second day, buoyed by investor hopes that fast-developing artificial-intelligence applied sciences will drive a increase in international chip demand.
The inventory rose as a lot as 4.6% Friday and was lately 3.9% increased at 564.00 New Taiwan {dollars} (US$18.29). The positive aspects added to TSMC’s 3.4% advance Thursday.
TSMC is probably the most precious inventory in Taiwan’s benchmark Taiex index, which rose 1.3% Friday.
The Taiwan semiconductor maker’s rally got here after chip big Nvidia, one in all TSMC’s purchasers, guided for a greater than 64% income leap for the quarter ending July. Analysts at Wedbush Securities known as the projection “draw dropping” and “strong.”
“There may be not one higher indicator round underlying AI demand occurring,” they mentioned.
Such an anticipated demand surge might suggest higher development for firms throughout the semiconductor provide chain, together with TSMC, analysts mentioned.
Nvidia’s upbeat steerage “builds our confidence that the upturn within the total chip cycle is imminent or might even have begun,” Nomura analysts mentioned in a observe.
Write to Yifan Wang at yifan.wang@wsj.com
