Nvidia (NVDA) closed at a record high Monday as Wall Street anticipates Big Tech’s earnings report in November.

Taiwan Semiconductor Manufacturing stock rose after the company posted a big jump in profit and sales for the third quarter, beating analysts’ estimates. It’s a sign of strong demand for artificial-intelligence chips.

Major U.S. indexes advanced at midday Thursday as a strong report on demand for artificial intelligence chips boosted the tech sector.

Nvidia witnessed its shares soar to a record high on Thursday as investors rallied around the resurgent AI trade, on the back of an upturn for TSMC.

While TSMC issued upbeat commentary on the state of the AI market, Wall Street perhaps already had that confidence.

(Reuters) -Shares of Nvidia hit a record high amid a rally in U.S. chip stocks on Thursday after industry bellwether TSMC's strong sales forecast boosted investor optimism about demand for processors used to power artificial intelligence applications.

Nvidia stock posted an intraday record Thursday after billionaire investor Stanley Druckenmiller said selling shares of the chip maker was a “big mistake” and Taiwan Semiconductor Manufacturing’s earnings revealed just how right that statement is.

Nvidia’s stock surged to a new record on Thursday as investors reignited interest in artificial intelligence, marking a significant gain after a brief summer slowdown. The stock climbed more than 3% intraday,