Key Takeaways

• Nvidia shares set yet another record high Thursday as concerns earlier this week about a softening in the semiconductor market was eased by TSMC's earnings report.

• The Taiwanese supplier of chips to Nvidia, Apple, and others reported a huge jump in profit and sales on AI chip demand, and predicted a continuation of that demand in the future.

• Also boosting Nvidia's stock were comments by billionaire Stanley Druckenmiller that he lamented selling all his shares of the company earlier this year.

Shares of Nvidia (NVDA) set a fresh record intraday high Thursday as a blowout earnings report from supplier Taiwan Semiconductor Manufacturing Co. (TSM) eased concerns that the semiconductor market was stalling.

TSMC posted a 54% year-over-year jump in profit and a 39% rise in revenue in the third quarter on artificial intelligence (AI) chip sales, and the company predicted demand would continue into the future.

That offset news earlier this week from Dutch semiconductor maker ASML Holding (ASML), which warned that the recovery in non-AI chips was taking longer than anticipated.

Druckenmiller Says Was 'Big Mistake' To Dump His Nvidia Shares

Adding to the positive feelings about Nvidia were comments from billionaire investor Stanley Druckenmiller about his sale of the company's shares. The Duquesne Family Office CEO said in an interview with Bloomberg Television that "it was a big mistake" to dump all his stake, adding, "I'm licking my wounds from a bad sale there."

Nvidia shares were recently up 2.7% to $139.39 after earlier Thursday touching a record $140.89. They have nearly tripled since the beginning of 2024.

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