Taiwan's semiconductor giant TSMC has reported a good third quarter with revenue up 36 percent over a year ago, due to strong demand from chip companies for smartphone and AI-related silicon.

Shares of US chipmakers surged before Thursday’s market open, driven by a positive sales forecast from Taiwan Semiconductor Manufacturing Co. (TSMC). The world’s largest contract chipmaker raised its annual revenue growth expectations and highlighted that AI chips will contribute a significant portion of its full-year revenue,