Why Taiwan Semiconductor, Meta Platforms, and Other Artificial Intelligence (AI) Stocks Rallied on Thursday

The U.S. presidential election is in the history books, and Donald J. Trump is now the president-elect. An uncontested election and a clear winner sparked a far-reaching rally on Wall Street yesterday, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all reaching record territory -- and that rally continued into Thursday. Some of the biggest gainers were companies at the forefront of artificial intelligence (AI), as some on Wall Street believe the policies of the incoming administration could provide a boost for the AI revolution.With that as a backdrop, chip foundry Taiwan Semiconductor Manufacturing (NYSE: TSM), commonly referred to as TSMC, jumped 4.4%; social media and AI specialist Meta Platforms (NASDAQ: META) rallied 3.4%; and AI chip specialist Broadcom (NASDAQ: AVGO) climbed 2.6%, as of 1:22 p.m. ET on Thursday.A check of all the usual sources -- earnings results, changes to analysts' ratings, and regulatory filings -- turned up nothing in the way of company-specific news that helped fuel gains for AI stocks. This suggests that investors are predicting additional upside for AI stocks under the incoming Trump administration.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool