PARIS (Reuters) – The New York Stock Exchange opened higher on Thursday, driven by strong quarterly corporate results, notably those of TSMC, which reinforces optimism around artificial intelligence (AI) and allows stocks linked to semiconductors to extend their rally.

In early trading, the Dow Jones index gained 113.23 points, or 0.24%, to 46,366.54 points.

The broader Standard & Poor’s 500 rose 18.97 points, or 0.28%, to 6,690.03 points.

The Nasdaq Composite rose 84.37 points, or 0.37%, to 22,754.45 points.

TSMC, the world’s largest producer of advanced electronic chips, raised its annual revenue forecast on Thursday, due to an optimistic outlook for AI spending, after posting a record quarterly profit.

In the wake of the gains recorded by the Taiwanese giant, Marvell Technology (+2.25%), Nvidia (+1.15%), Micron Technology (+3.92%) and Broadcom (+1.40%) are in the green, while the semiconductor compartment advances by 1.27%.

Stocks linked to computer chips have been among the most dynamic since the start of the week, while the enthusiasm around AI, as well as the prospect of rate cuts from the American Federal Reserve (Fed) encourage risk-taking on the markets.

The solid profits published this week by the major American banks, whose index is still up 0.18%, have also relegated to the background the partial closure of the American federal administration (“shutdown”) which continues and prevents the publication of official economic indicators.

Even the resurgence of trade tensions between China and the United States does not seem likely to dampen investor appetite. Especially since Scott Bessent, the American Secretary of the Treasury, stressed on Wednesday that President Donald Trump was ready to meet his Chinese counterpart, Xi Jinping, in South Korea this month.

The trend could, however, change with the interventions planned during the day by several Fed officials, including that of Vice-President Michelle Bowman and those of Governors Stephen Miran and Christopher Waller.

In the rest of the stocks that stand out on Wall Street, Salesforce climbs 8.25% with the announcement of a forecast of annual turnover of more than $60 billion by 2030 and a share buyback plan.

Hewlett Packard Enterprise fell 8.86% after the group announced an annual profit and turnover forecast lower than Wall Street expectations.

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(Writing by Claude Chendjou, edited by Kate Entringer)

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