US stocks rose at the opening bell on Thursday, signaling a recovery from back-to-back losses as chip linchpin TSMC's strong outlook boosted AI hopes in the wait for more big bank earnings. The tech-heavy Nasdaq Composite (^IXIC) picked up around 0.9% to lead the way higher, while the S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) gained 0.6% and 0.3%, respectively, following a second straight day of losses for the Wall Street indexes. TSMC (TSM), the world's largest contract chipmaker, posted ...

Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) didn't just beat earnings — it forced a rethink on investor positioning. The stock surged to fresh all-time highs after a blowout quarter, but the more interesting story sits beneath the headline numbers: how much wealth this AI rally just locked in for the market's biggest long-term holders.Track TSM stock here.Chart created using Benzinga ProOver the past year, TSM has climbed roughly 68%, rising from around $207 in mid-January 2025 to above $347 in pre ...

Semiconductor Industry - TSMC reported Q4 2025 revenue of $33.73 billion, a 25.5% year-over-year increase and a 1.9% quarter-over-quarter increase, with a gross margin of 62.3%, driven by strong demand for high-end chips due to the AI computing wave [1] - TSMC's capital expenditure is expected to reach $52-56 billion in 2026, exceeding market expectations, indicating robust future AI computing demand [1] Tungsten Industry - Domestic prices for tungsten products have increased, with black tungsten concentrate and ammonium paratungstate prices rising by 5,000 yuan/ton and tungsten iron by 10,000 yuan/ton [1] - Global tungsten supply growth is limited, with a projected compound annual growth rate of 2.57% from 2023 to 2028, while demand is expected to grow at 2.61% during the same period, driven by emerging industries [2] Commercial Aerospace - Beijing's Rocket Street project has completed its construction and will serve as China's first commercial aerospace research and production base, offering various shared services for the entire commercial aerospace development chain [3] - The U.S. aims to produce 10,000 Starship spacecraft annually, and the FCC has approved SpaceX's deployment of an additional 7,500 second-generation Starlink satellites, totaling 15,000 [3] Power Grid Equipment - The State Grid's investment plan for the 14th Five-Year Plan is set at 4 trillion yuan, a 40% increase from the previous plan, focusing on green transformation and new power system construction [4] - This investment is expected to lead to significant upgrades in China's power system, enhancing energy security and global competitiveness [4] Carbon Fiber Industry - A breakthrough in domestic T1000-grade high-performance carbon fiber has been achieved, with each fiber having 12,000 filaments and a tensile strength exceeding 6,600 MPa, marking a significant advancement in high-end materials [5] - By 2030, China's carbon fiber production capacity is expected to exceed 250,000 tons, with demand in the new energy vehicle sector projected to rise significantly [6] GaN Power Products - Onsemi has signed a collaboration agreement with GlobalFoundries to develop advanced GaN power products, starting with 650V devices, to meet the growing power demands in various sectors [6] - GaN technology is expected to enhance efficiency and reduce costs in applications such as AI data centers and electric vehicles [7]

Chip stocks jumped in premarket trade Thursday as Nvidia's (NVDA) chip manufacturer TSMC (TSM) gave financial forecasts that signaled strong demand for AI and its CEO dismissed bubble fears. Following the release of its fourth quarter results — which outperformed Wall Street’s expectations on the top and bottom lines in its fourth quarter — TSMC executives said the Taiwan-based manufacturer is set to see AI-related revenue grow at a compounded annual rate (CAGR) in the high-50% range through 2029. Crucial ...

Core Insights - TSMC's net profit for Q4 2025 is projected to be NT$505.7 billion, with revenue expected to reach NT$1.046 trillion and a gross margin of 62.3% [1] Financial Performance - The net profit of NT$505.7 billion indicates a strong financial position for TSMC in the fourth quarter of 2025 [1] - Revenue of NT$1.046 trillion reflects significant sales performance, showcasing the company's robust market demand [1] - A gross margin of 62.3% highlights TSMC's efficiency in managing production costs relative to its revenue [1]

消息面上，台积电公布的2025年第四季度业绩显示，该公司第四季度净利润达5057亿元台币，超出市场 预期，创下公司历史上最高的季度净利润，并实现连续八个季度的利润增长。另外，公司第四季度毛利 率为62.3%，亦超出市场预期。 台积电预计，2026年第一季度营收将处于346亿美元至358亿美元区间，毛利率将处于63%至65%区间， 经营利润率将处于54%至56%区间。公司还预计，2026年全年资本支出将处于520亿美元至560亿美元区 间。 智通财经APP获悉，周四，半导体设备与材料板块盘前普涨，应用材料(AMAT.US)涨逾8%，阿斯麦 (ASML.US)涨逾7%，科磊(KLAC.US)涨近7%，台积电(TSM.US)、日月光半导体(ASX.US)涨逾5%，美 光科技(MU.US)涨近4%。 ...

Group 1 - Munro Global Growth Fund reported a return of -0.7% in the December quarter of 2025, with long positions contributing positively while short positions, hedging, and currencies detracted from performance [1] - Global equity markets performed well in 2025, with the S&P 500 up 2.4% and the Nasdaq up 2.3% during the quarter, while Europe and Japan also showed strong performance [1] Group 2 - Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) had a one-month return of 14.90% and a 52-week gain of 52.29%, closing at $327.11 per share with a market capitalization of $1.4 trillion on January 14, 2026 [2] - TSMC is recognized as a key contributor to the demand for compute, playing a critical role in chip manufacturing regardless of the technology adopted by hyperscalers [3] Group 3 - TSMC ranked 9th among the 30 most popular stocks among hedge funds, with 194 hedge fund portfolios holding its shares at the end of the third quarter of 2025, up from 187 in the previous quarter [4] - In the third quarter of 2025, TSMC's revenue increased by 6% sequentially in NT, indicating strong financial performance [4]

Core Insights - The article emphasizes the importance of creating engaging and educational financial content for various audiences, particularly focusing on thematic investing and market events [1] Group 1: Content Creation - The company specializes in producing written content in multiple formats, including articles, blogs, and social media, aimed at financial advisors and investment firms [1] - There is a strong focus on making financial data accessible and relevant, utilizing empirical data to support narratives [1] - The use of charts and visual aids is highlighted as a key tool for storytelling in finance [1] Group 2: Market Analysis - The company expresses enthusiasm for analyzing various asset classes, including stocks, bonds, commodities, currencies, and cryptocurrencies [1] - There is an emphasis on understanding macro drivers that influence market conditions and investment opportunities [1] Group 3: Audience Engagement - The content aims to relate to everyday investors in a concise and engaging manner, making complex financial concepts easier to understand [1] - SEO strategies and adherence to specific style guides are considered important for maximizing content reach and effectiveness [1]

Market Overview - U.S. stock futures are showing a mixed to positive trend as investors react to corporate earnings, economic data, and geopolitical developments [1] - Major indexes experienced a two-day retreat, primarily due to a sell-off in technology and banking sectors [1] Premarket Trading and Index Performance - Nasdaq 100 futures are up approximately 0.72% to 0.8%, while S&P 500 futures show gains of around 0.32% to 0.46% [2] - Dow Jones Industrial Average futures are mixed, ranging from down 0.09% to up 0.16%, indicating a nuanced outlook across market segments [2] Recent Index Performance - On January 14, all three major U.S. indexes closed in the red for the second consecutive session, with the S&P 500 declining by 0.5% to 0.53% and the Nasdaq Composite leading losses with a 1% drop [3] Upcoming Market Events - Key economic indicators such as initial weekly jobless claims and retail sales are scheduled for release, which could influence market direction [4] - Speeches from several Federal Open Market Committee members are also expected, potentially providing insights into the Federal Reserve's monetary policy [4] Earnings Reports - Today's earnings reports from major companies like Taiwan Semiconductor Manufacturing Company (TSM), Goldman Sachs Group Inc. (GS), Morgan Stanley (MS), and BlackRock Inc. (BLK) are highly anticipated [5] Technology and Semiconductors - TSMC's shares surged over 5.76% to 6.5% in premarket trading after reporting fourth-quarter profits that exceeded expectations and announcing plans for increased capital spending in 2026 [6] - Shares of U.S. chipmaking equipment companies, including Applied Materials Inc. (AMAT) and Lam Research Corp. (LRCX), also saw gains in premarket trading [6] Financial Sector Performance - The financial sector faced challenges, with Wells Fargo & Co. (WFC) dropping 4.6% after weaker-than-expected Q4 revenue [9] - Citigroup Inc. (C) and Bank of America Corp. (BAC) both fell more than 3% to 3.8%, despite some reporting stronger profits [9] - BlackRock Inc. (BLK) shares advanced 2% to 2.5% in premarket trading after beating Wall Street estimates for fourth-quarter profit [10] Other Notable Movers - Trip.com Group Limited (TCOM) shares plunged 17.05% following an antitrust investigation by Chinese regulators [11] - Rocket Lab USA Inc. (RKLB) jumped 6.03% after a downgrade, while EchoStar Corp. (SATS) gained 5.94% amid IPO news from SpaceX [11] Economic Landscape and Geopolitical Factors - The Federal Reserve Beige Book indicated slight to modest economic activity growth, with prices increasing at a moderate rate [12] - Oil prices declined nearly 4% to $59.70 a barrel following geopolitical developments, including President Trump's comments on military actions [13]

Investment Environment - L1 Capital International Fund's fourth-quarter 2025 investor letter emphasizes the importance of valuation analysis for AI-focused investments, indicating that mere conviction in AI is insufficient for successful outcomes [1] - The year 2025 was characterized as a strong year for global stock markets, with the fund returning 2.2% net of fees, compared to 2.5% for the MSCI World Net Total Return Index in AUD [1] Fund Performance - For the year 2025, the fund achieved a return of 9.8% net of fees, while the benchmark index returned 12.4% [1] Key Holdings - Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is highlighted as a significant holding, with a one-month return of 14.90% and a 52-week gain of 52.29% [2] - As of January 14, 2026, TSMC's stock closed at $327.11 per share, with a market capitalization of $1.4 trillion [2] Company Insights - TSMC is recognized as the leading manufacturer of semiconductor chips for AI and mobile applications, benefiting from strong demand and industry-leading manufacturing capabilities [3] - The company has expanded its capacity in Taiwan and made significant investments in the U.S. and other international markets, with financial performance exceeding expectations [3] - Despite substantial share price outperformance, TSMC remains within the assessed fair value range and is a top 10 holding for the fund [3] Hedge Fund Interest - TSMC ranks 9th among the 30 most popular stocks among hedge funds, with 194 hedge fund portfolios holding the stock at the end of Q3 2025, an increase from 187 in the previous quarter [4]