Overview

• TSMC reported a 54% year-over-year increase in third-quarter net profit, driven by robust demand for AI chips.
• The company's strong performance contrasts with ASML's recent downbeat outlook, restoring investor faith in the semiconductor sector.
• U.S.-listed shares of TSMC soared 8% in premarket trading, while Nvidia shares also saw gains.
• TSMC forecasts continued revenue growth in the fourth quarter, fueled by AI and smartphone demand.
• The broader market, including the Dow and Nasdaq, is buoyed by TSMC's results and a favorable earnings season.