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What's Going On With Taiwan Semiconductor Stock On Wednesday?

Taiwan Semiconductor Manufacturing Co (NYSE:TSM) reported significant growth in second-quarter revenue on Wednesday, surpassing market forecasts due to the booming demand for artificial intelligence (AI) applications. Taiwan Semiconductor, which counts Apple Inc (NASDAQ:AAPL) and Nvidia Corp (NASDAQ:NVDA) among its clients, has experienced a surge towards AI that has helped it withstand the decline in pandemic-driven demand, pushing Taiwan Semiconductor’s share price to a record high, Reuters reports. In the April-June period, Taiwan Semiconductor’s revenue reached roughly $20.67 billion (673.51 billion New Taiwan dollars), surpassing analyst consensus of 654.27 billion New Taiwan dollars. This represents a ...