Tech Stocks Rally on TSMC Optimism Amid Market Volatility

Nasdaq futures rose after Taiwan Semiconductor Manufacturing Co. raised its revenue forecast, lifting tech stocks. Major players like Apple and Nvidia saw upticks, rebounding from previous session losses due to potential U.S. export curbs on semiconductor technology. The broader market showed mixed performance amid an ongoing quarterly earnings season.

Nasdaq futures surged on Thursday following Taiwan Semiconductor Manufacturing Co.'s optimistic revenue forecast, driving gains in tech stocks.

U.S.-listed shares of TSMC rose 1.5% in premarket trade as the world's largest contract chipmaker predicted increased revenue due to high demand for AI chips. Major tech customers, Apple and Nvidia, saw share increases of 0.6% and 2.5%, respectively.

However, the market remained volatile. Previous session losses were driven by concerns over potential U.S. restrictions on semiconductor technology exports to China, triggered by remarks from presidential candidate Donald Trump. Key stocks like Meta Platforms, Tesla, and Amazon showed modest gains, while broader indexes such as the Dow and Russell 2000 reflected mixed movements.

(With inputs from agencies.)