TSMC's 58% profit surge on AI demand lifts semiconductor stocks including Semtech and Amkor

Taiwan Semiconductor Manufacturing Co. (TSMC) reported a substantial 58% jump in quarterly profit

TSMC forecasted strong future sales driven by booming demand for artificial intelligence applications

Multiple stocks including Semtech and Amkor traded higher in the afternoon session following TSMC's positive earnings report

TSMC's performance signals robust market momentum in the semiconductor industry fueled by AI-related demand