Stock Futures Rising With Tech Leading the Charge After TSMC Earnings Beat

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U.S. stock futures were pointing to a session of gains for tech on Thursday as a strong set of results from chip maker Taiwan Semiconductor Manufacturing Co. gave the market reason to believe the artificial intelligence investing frenzy will continue.

The Nasdaq 100 looked set to be the best performer of the three blue-chip U.S. indexes, with contracts tied to the tech-heavy gauge up 0.4%. Futures for the Dow Jones Industrial Average slid 24 points, or 0.1%, a day after the index hit yet another record high. S&P 500 futures climbed 0.1%.

TSMC reported a record net third-quarter profit early Thursday, signaling to investors that demand for its chips is still strong. Its earnings beat should soothe the market, after Dutch semiconductor equipment manufacturer ASML’s soft sales forecast fueled fears that the AI boom could be about to fizzle out.

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