Taiwan Semiconductor Manufacturing Co., the world's largest contract chipmaker, posted a first-half revenue surge of 40% on booming AI demand.

TSMC's revenue rose a better-than-anticipated 39% in the June quarter. The chipmaker for Nvidia and Apple sales climbed to NT$934 billion ($32 billion) for the three months, beating the average analyst projection for about NT$928 billion.

Nvidia briefly reached a market capitalization of $4 trillion on Wednesday, making it the first company in the world to reach the milestone and solidifying its position as one of Wall Street's most-favored stocks.

Nvidia’s stock market value ended the trading session above $4 trillion for the first time on Thursday, solidifying the AI chipmaker’s position as one of Wall Street’s most-favored stocks. Shares of Nvidia ended up 0.

Wall Street is betting Nvidia can make stock market history again. After the chipmaker powered its way to a $4 trillion valuation, the first company to ever reach the milestone, analysts still see room for the stock to grow.