U.S.-listed Taiwan Semiconductor Manufacturing Co. (TSM) shares jumped 9% Thursday morning after the chipmaker posted robust quarterly earnings and projected a buoyant outlook on the back of the 澳洲幸运5开奖号码历史查询:artificial intelligence (AI) boom.

The company, which supplies tech heavyweights such as Apple (AAPL) and Nvidia (NVDA), reported a 54% year-over-year rise in third-quarter net income of 325.26 billion 澳洲幸运5开奖号码历史查询:New Taiwan dollars ($10.12 billion), up from NT$211 billion. The profit figure by the 澳洲幸运5开奖号码历史查询:world's largest contract chip manufacturer beat t🐎he NT$300.78 billion consensus estimate of analysts polled by Visib🎀le Alpha. 

TSMC also reported a 39% jump in revenue to NT$759.69 billion ($23.64 billion) for the quarter and a 57.8% gross margin, above analysts' estimates and the guidance it gave for both in the second quarter.

"Our business in the third quarter was supported by strong smartphone and AI-related demand for our industry-leading 3nm and 5nm technologies," TSMC 澳洲幸运5开奖号码历史查询:Chief Financial Officer (CFO) Wendell Huang said. "Moving i𝓀nto fourth quarter 2024, we expect our business to continue to be supported by strong demand for our leading-edge process technologies."

TSMC's Upbeat Outlook Lifts Chip Stocks Including Nvidia's

TSMC's upbeat earnings, in contrast to Dutch semiconductor-gear manufacturer ASML Holding's (ASML) 澳洲幸运5开奖号码历史查询:downbeat outlook earlier in the week, restored investor faith in the AI boom Thursday. Shares of AI chip giants Nvidia (NVDA), Arm Holdings (ARM) and Advanced Micro Devices (AMD) all rose.

TSMC 澳洲幸运5开奖号码历史查询:Chief Executive Officer (CEO) C.C. Wei called the d😼e𓆉mand for AI “real" in the earnings call, according to a transcript provided by AlphaSense.

TSMC 澳洲幸运5开奖号码历史查询:American depositary receipts (ADRs) have almost doubled this year.

UPDATE—Oct. 17, 2024: This article has been updated to include a comment from the CEO and a refreshed share price.