Nvidia Soars, Boosting Hopes for Chip Giant TSM

Nvidia (NASDAQ:NVDA), a fabless semiconductor company, reached a new all-time high on October 14th, making its market capitalization the second-largest at $3.40 trillion, trailing behind Apple (NASDAQ:AAPL) which market cap is $3.52 trillion.Nvidia’s near-term outlook gives an upbeat in Taiwan Semiconductor Manufacturing Company (NYSE:TSM) as the largest foundry that manufactures 60% of the world’s semiconductors and over 90% of the most advanced chips. As a prime chip supplier to Nvidia, TSM is poised to get raise in value too.TSM will announce its third quarter (Q3) results on October 17, the same date as Netflix’s Q3 release schedule, and the analysts expectations are high.The artificial intelligence (AI) boom that drives demand for chips is expected to benefit the chipmaker and analysts suggest a 40% surge in TSM’s Q3 profits. SmartEstimate estimated TSM’s net profit to be T$298.2 billion or equal to US$9.27 billion at the end of the third quarter.When most TSM’s major tech…