Nvidia hits all-time high, US chip stocks rally after TSMC's strong Q3 results
17/10/2024 18:48
(Updates stock activity for regular trading session)
** Shares of Nvidia NVDA.O jump nearly 4% to new record and
U.S.-listed chip stocks rally on Thurs after Taiwan
Semiconductor Manufacturing Co's TSM.N Q3 profit beat
forecasts on AI boom
** TSMC, the world's largest contract chipmaker, and a major
Apple AAPL.O and Nvidia supplier, reported a forecast-beating
54% jump in quarterly profit on Thursday, driven by soaring
demand for chips used in AI
** Co's robust performance and outlook underscored the
continued strong demand for AI and provided a positive push to
chip stocks
** U.S.-listed shares of TSMC last up 12% on the session,
while shares of AI darling Nvidia up ~3%
** NVDA shares on Thurs rose as much as 3.8% to $140.89,
surpassing prior record peak of $140.76 set on Jun 20
** Nvidia currently roughly $120 bln away from overtaking
Apple as the world's most valuable co
** Micron MU.O up 4%, Broadcom AVGO.O advances 4%, and
Intel INTC.O gains 1.5%
** Shares of Qualcomm QCOM.O rise 1.7% and Advanced Micro
Devices AMD.O advances 1.4%
** U.S.-listed shares of British chip designer Arm Holdings
ARM.O up 3%
** Philadelphia semiconductor index .SOX up 2.5%, iShares
semiconductor ETF SOXX.O up 2.3%, and VanEck Semiconductor ETF
SMH.O advances 3.3% on Thurs
(Reporting by Sukriti Gupta in Bengaluru and Lance Tupper in New
York )
((mailto:Sukriti.Gupta@thomsonreuters.com;))