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Semiconductor boom and Europe strengthens
TSMC (Taiwan Semiconductor Manufacturing Co.) has seen a 60% jump in sales to $7.3 billion as the demand for AI chips increases. This could be directly related to the global smartphone industry returning to growth at the beginning of the year. This is especially evident as the competitive Chinese market drives orders for mobile chips. Also, TSMC is the sole manufacturer of advanced training chips for Nvidia, manufactures semiconductors for Apple, and supplies Nvidia’s direct competitor AMD.
European markets are still on the rise.
The Euro Stoxx index improved by 0.85%, led by mining and utilities. The UK has emerged from a recession in the first quarter as the FTSE100 performs well. Does this signify the beginning of investor confidence in European stock?
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