Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

Shares of foundry Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM) rose in premarket trading on Thursday, positioning the company on track to cross the $1 trillion market capitalization threshold.

Hsinchu, Taiwan-based TSMC reported a 39% year-over-year and 12.8% sequential increase in revenue to NT$759.69 billion ($23.50 billion), exceeding the company’s guidance of $22.4 billion to $23.2 billion and the consensus estimate. Strong smartphone and AI-related demand for more advanced 3-nanometer and 5-nm processor node technologies fueled the top-line growth.

Don’t Miss:

• A billion-dollar investment strategy with minimums as low as $10 — you can become part of the next big real estate boom today.
  This is a paid advertisement. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in the Fund's prospectus. Read them carefully before investing.

• Your biggest returns may not come from the stock market. Invest the way colleges, pension funds, and the 1% do. Get started investing in commercial real estate today.

These high-performance, high-value chips also drove margin expansion from the year-ago and previous quarters. As such, the bottom line jumped 54% to NT$12.54 per share ($1.94), exceeding Street expectations.

The company guided to fourth-quarter revenue of $26.1 billion to $26.9 billion, while the Street was modeling a far more modest $24.86 billion.

In premarket trading, U.S.-listed ADRs of TSMC soared 8.47% to $203.36, according to Benzinga Pro data. The positive sentiment has proved contagious and has perked up the semiconductor space as a whole.

If the positive sentiment toward TSMC carries over into the regular session, the company’s valuation could shoot past $1 trillion. The company is currently the ninth most valued by market capitalization in the world.

Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today. SmartAsset’s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

Keep Reading:

• Interest rate cuts could supercharge the real estate industry. Get started investing in commercial real estate today.

• This billion-dollar fund has invested in the next big real estate boom, here's how you can join for $10.
  This is a paid advertisement. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Flagship Fund before investing. This and other information can be found in the Fund's prospectus. Read them carefully before investing.

This article TSMC On Cusp Of Topping $1 Trillion Valuation As Stock Jumps 8% In Premarket: What's Going On originally appeared on Benzinga.com