Chip Stocks Rally as TSMC Earnings Point To Strong AI Demand

Key TakeawaysChip stocks rose Thursday after the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co., reinvigorated Wall Street’s AI enthusiasm. Better-than-expected quarterly results and a rosy financial outlook powered its shares higher, along with a broader index of semiconductor stocks. Pockets of the industry are still grappling with an inventory glut that has persisted for more than a year amid sluggish consumer demand.  Chip stocks rose Thursday after the world’s largest contra ...