Taiwan Semiconductor Manufacturing stock rose after the company posted a big jump in profit and sales for the third quarter, beating analysts’ estimates. It’s a sign of strong demand for artificial-intelligence chips.

If there was any concern about the health of the artificial-intelligence chip market currently, Taiwan Semiconductor Manufacturing Co. put that to rest with its latest results — setting up Nvidia Corp.

U.S.-listed Taiwan Semiconductor Manufacturing Co. shares are jumping 8% in premarket trading after the chipmaker posted robust quarterly earnings and projected a buoyant outlook on the back of the artificial intelligence (AI) boom.