● TSMC RAISES OUTLOOK AS AI STOCKS SLIDE

Taiwan Semiconductor ($TSM) said third-quarter revenue jumped 50.9% from a year earlier, with net income and diluted EPS both up 68.7% on surging AI chip demand. The company guided fourth-quarter revenue to between $52.3 billion and $54.3 billion, implying another double-digit jump from the prior quarter, with gross margin seen at 65%-67%. Chip and AI stocks sold off anyway, as investors question how much longer the spending boom can keep justifying itself.