What happened: Taiwan Semiconductor Manufacturing Company (TSM) stock was poised to open lower on Thursday despite posting a record profit and beating estimates amid global demand for AI chips. What's behind the move: TSMC reported a sixth straight quarter of record profits as the company's bottom line jumped nearly 69% while revenue surged 51%. The Taiwan-based contract chip manufacturer's sales are expected to reach as much as $54.3 billion for its current quarter, beating analyst estimates.(Yahoo Finance) "Demand for our leading-edge technologies continue to be extremely robust," TSMC CEO C.C. Wei said during the call. "We observe increasing AI demand fueled by the rising adoption of agentic AI as we transition from chatbot to AI assistance.
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