Nvidia rose 3% in morning trading, hitting a new intraday high on Thursday, boosted by optimism around the artificial-intelligence trade and promising numbers from its chip manufacturer Taiwan Semiconductor.

The stock hit a record closing high of $189.11 in the previous trading session after a 2.2% jump.

CEO Jensen Huang said Wednesday that demand for AI is growing exponentially, in an interview with CNBC. "Demand for Blackwell is really, really high," he said. "I think we're at the beginning of a new buildout, beginning of a new industrial revolution."

Blackwell is Nvidia's most advanced chip, used for demanding applications such as generative AI and large language models.

Huang also confirmed his company's involvement in funding xAI, the AI start-up led by Elon Musk.

In another boost to the AI trade, Taiwan Semiconductor Manufacturing, or TSMC, said revenue rose 31% year-over-year in September to 331 billion New Taiwan dollars ($10.9 billion). Revenue for January through September was NT$2,763 billion, an increase of 36% compared with the same period in 2024.

"There is no real sign of a slowdown in AI-driven demand in the latest numbers from TSMC," said Russ Mould, investment director at AJ Bell. "The chip manufacturing giant may have seen a slight easing in demand month-on-month but year-over-year the levels of growth are still impressive for a company of its size."

TSMC's American depositary receipts fell 0.2% in premarket trading, following a 3.6% gain Wednesday.