The manufacturer of Nvidia, AMD chips soothes concerns that rocked the industry Tuesday

📆 17/10/2024 11:20 a. m.
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Jim Cramer,Investment Strategy,Markets

Shares of Nvidia, Broadcom and AMD all were higher in Thursday's session.

Maybe the AI boom isn't petering out after all. The news Taiwan Semiconductor Manufacturing Company on Thursday reported strong third-quarter results fueled, in part, by artificial intelligence processors. Per-share profit at the world's largest third-party chip producer jumped 54% from the year-ago period. Sales rose 36%. TSMC shares that trade in the U.S. soared 12.

TSMC headquarters in Hsinchu, Taiwan. The semiconductor manufacturer's products lie at the heart of everything from automobiles to smartphones.

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