Wall Street turned upbeat Thursday as the S&P 500 and Nasdaq posted solid gains. Investors poured money into technology shares after TSMC reported earnings that beat expectations. The chipmaker’s strong results revived confidence in the artificial intelligence trade, prompting a broad rally across U.S. equities for the day on Thursday.

Analysts had warned that AI‑related spending could stall after a surge in 2023, leaving chip makers vulnerable. TSMC’s ability to meet demand for high‑performance GPUs and custom accelerators signaled that the sector’s growth curve remains upward, easing earlier concerns about a slowdown in the broader semiconductor market through 2024 projections.

Market watchers will monitor next week’s earnings from Nvidia and AMD for clues on whether AI spend sustains its momentum. If those giants confirm robust orders, the rally could extend into the second quarter. Conversely, any sign of inventory buildup may temper enthusiasm and prompt a corrective pullback in stocks.