Taiwan Semiconductor surges as foundry giant says October sales rise 56%; chip stocks rise

Taiwan Semiconductor (NYSE:TSM) shares rose nearly 5% on Thursday as the world's largest semiconductor foundry said its October sales rose 56% year-over-year.
For the month ending October 31, Taiwan Semiconductor (TSM) generated $6.6B in revenue (or NT$210.3B), up from NT$134.5B in the year-ago period.
Taiwan Semiconductor (TSM) makes chips for a number of clients such as Apple (AAPL), Nvidia (NVDA), Advanced Micro Devices (AMD) and others.
Semiconductor stocks mostly rose on Thursday, aided in part by the strong results from Taiwan Semiconductor (TSM), as well as the October CPI report, which showed inflation is easing.
Nvidia (NVDA) gained more than 8.4%, while AMD (AMD) tacked on nearly 10%. Other chip stocks also saw healthy gains, with Micron Technology (MU), Analog Devices (ADI), NXP Semiconductors (NXPI) and ON Semiconductor (ON) all rising more than 5%.
On Wednesday, it was reported that Taiwan Semiconductor (TSM) was planning another multibillion-dollar factory investment in Arizona.