While TSMC issued upbeat commentary on the state of the AI market, Wall Street perhaps already had that confidence.

Nvidia shares hit another record high Thursday as concerns earlier this week about a softening in the semiconductor market was eased by TSMC's earnings report.

Nvidia stock was on track to close at the highest level on record Thursday after billionaire investor Stanley Druckenmiller said selling shares of the chip maker was a “big mistake” and Taiwan Semiconductor Manufacturing’s earnings revealed just how right that statement is.