The article discusses Taiwan Semiconductor Manufacturing Company’s (TSMC) strong third-quarter earnings and upbeat sales forecast, which fueled a rally in shares of AI chipmakers like NVIDIA and Broadcom. TSMC, the world’s largest contract chipmaker, reported a 36% year-over-year increase in net profit for the third quarter, beating analysts’ estimates. The company also raised its revenue growth forecast for 2023, citing robust demand for chips used in artificial intelligence applications. This positive outlook from TSMC, a key supplier to major AI chipmakers, boosted investor confidence in the AI semiconductor sector. Shares of NVIDIA, a leading AI chipmaker, surged over 8% following TSMC’s earnings release, while Broadcom’s stock also rallied. The report highlights the growing importance of AI chips and TSMC’s pivotal role in meeting the increasing demand for advanced semiconductors powering AI systems.