TECH - AI Chip Stocks Nvidia AMD Taiwan Semi Saw A Selloff This Week - What's Going On? | Benzinga
Taiwan Semiconductor Manufacturing Co (NYSE:TSM) saw its shares decline Friday despite reporting substantial second-quarter profits following a verbal attack from former President Donald Trump.
Trump questioned the U.S. obligation to defend Taiwan, flagging the lack of a formal defense treaty between the U.S. and Taiwan, unlike with South Korea and Japan, the Financial Times reports. Taiwan Semiconductor stock lost over 6% so far this week.
The key Nvidia Corp (NASDAQ:NVDA) supplier announced a net profit of $7.6 billion for the June quarter, surpassing market expectations as continued artificial intelligence demand translates into tailwinds.
It also projected a more than one-third increase in third-quarter sales.
With Taiwan holding a 90% ...