Taiwan Semiconductor reports a third-quarter earnings surge of 54%, Travelers rises sharply after topping profit estimates, Expedia jumps after a report says Uber has explored a bid for the online travel company,

The stock market is trading higher midday. The S&P 500 gained 0.32% and the tech-heavy Nasdaq Composite added 0.56%. The Dow Jones Industrial Average rose 0.4%, while the Russell 2000 Index lost 0.3%.

Key Takeaways Major U.S. indexes advanced at midday Thursday as a strong report on demand for artificial intelligence chips boosted the tech sector.Nvidia supplier TSMC posted strong profits on AI chip sales,

Chip stocks rose on Thursday after the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co., reinvigorated Wall Street’s AI enthusiasm.

(Reuters) -Shares of Nvidia hit a record high amid a rally in U.S. chip stocks on Thursday after industry bellwether TSMC's strong sales forecast boosted investor optimism about demand for processors used to power artificial intelligence applications.

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