TSMC shares hit a record high on Thursday after Morgan Stanley upgraded its price target for chipmaker Nvidia, citing continued strong demand for AI. TSMC is the world's largest advanced chip manufacturer and produces semiconductors for companies like Nvidia and Apple. Morgan Stanley raised its Nvidia price target and said it sees a very strong near-term outlook, fueled by AI demand. Nvidia benefits from the AI boom, with its GPUs powering large language models like ChatGPT that require massive processing power.
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00:00 It's Benzinga and here's what's on the block.
00:02 TSMC shares hit a record high on Thursday after Morgan Stanley upgraded its price target for
00:06 chip maker NVIDIA, citing continued strong demand for AI. TSMC is the world's largest
00:12 advanced chip manufacturer and produces semiconductors for companies like NVIDIA and
00:16 Apple. Morgan Stanley raised its NVIDIA price target and said it sees a very strong near-term
00:21 outlook fueled by AI demand. NVIDIA benefits from the AI boom, with its GPUs powering large
00:26 language models like Chad GPT that require massive processing power. The TSMC manufactures chips
00:32 using 3nm Transitioner technology and plans 2nm production in 2025 for more advanced semiconductors.
00:40 For all things money visit Benzinga.com
00:42 Ciao.