Chip stocks rose Thursday after the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co. (TSM), reinvigorated Wall Street’s AI enthusiasm with 澳洲幸运5开奖号码历史查询🦹:better-than-expected quarterly re✱sults and a rosy financial outlook. 

The PHLX Semiconductor Index (SOX) advanced about 2% on Thursday morning, led by TSMC, up 12%. Shares of Broadcom (AVGO) climbed more than 3%, while Nvidia (NVDA), the chip designer at the heart of the AI craze, rose 2%, as did chip designer Arm Holdings (ARM).

TSMC on Thursday morning said net income increased by more than 50% in the third quarter, far exceeding Wall Street’s estimates. CFO Wendell Huang attributed the company’s results to “strong smartphone and AI-related demand.” CEO C.C. Wei estimated that the contribution of AI processor sales 💝to TSMC’s total revenue would triple this year.

The results underscored t﷽he diverging fortunes of companies within the broader semiconductor industry. Pockets of the industry are still grappling with an inventory glut that has persisted for moreꦿ than a year amid sluggish consumer demand. 

"While there continue to be strong developments and upside potential in AI, other market segments are taking longer to recover,” said Christophe Fouquet, CEO of Dutch chipmaking equipment manufacturer ASML Holding (ASML) earlier this week.

ASML’s warnings sparked a 澳洲幸运5开奖号码历史查询:semiconductor sell-off, sinking the SOX index more than 5% on Tuesday. Despite Thursday’s TSMC-led rally, the ind💫ex remained 3% below its Monday close.