Investing.com-- Major Asian chipmaking stocks advanced on Thursday, shrugging off weak cues from their U.S. peers as investors looked to earnings from TSMC to gauge whether artificial intelligence demand remained strong.) was set to receive over $6 billion in U.S. government grants to increase domestic production. The stock recovered in aftermarket trade on Wednesday.) rose 1% and 0.8%, respectively. Samsung had earlier this week received similarly valued U.S.
Reuters estimates expect TSMC to report a net profit of T$217.2 billion , a 5% increase from last year. TSMC is a key component of the global chip industry, and is also a major supplier to Nvidia- whose astronomic jump in valuation spilled over into TSMC over the past year.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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