Taiwan Semiconductor rises more than 1%, Jensen Huang says NVIDIA relies heavily on Taiwan Semiconductor to produce its most important chips

Taiwan Semiconductor rose more than 1%, closing at $171.33. On the news front, NVIDIA CEO Jensen Huang said at the Goldman Sachs Technology Conference on Wednesday local time that NVIDIA relies heavily on Taiwan Semiconductor to produce its most important chips because Taiwan Semiconductor is far ahead in this field. The flexibility and capability of Taiwan Semiconductor are incredible, they perform exceptionally well, so we choose them for production, and of course, if necessary, we can collaborate with others. In addition, Morgan Stanley stated that Taiwan Semiconductor's strong sales in August indicate that third-quarter performance may exceed its guidance. The firm maintains a "buy" rating on the stock with a target of NT$1200. Analysts believe that due to strong demand for N3 and continued demand for N5 from artificial intelligence accelerators and other high-performance computing products, Taiwan Semiconductor's third-quarter revenue may slightly exceed the high end of its guidance range