TSMC posts strong third-quarter results, but shares drop amid AI selloff

TSMC posts strong third-quarter results, but shares drop amid AI selloff

Taiwan Semiconductor Manufacturing Co. today posted better-than-expected financial results for the third quarter, but its shares nevertheless dropped 2%.

The dip is tied to a broader selloff in artificial intelligence stocks. Investors started offloading shares on Wednesday in response to an X post about the debt load of CoreWeave Inc., an AI cloud provider. The selloff soon spread to other neoclouds and their hardware suppliers.

TSMC is only one…