TSMC and ASML post-earnings stock moves could be a sign of what's to come from chip companies

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Two of the biggest names in chip manufacturing, Taiwan Semiconductor Manufacturing Co. and ASML, both reported strong earnings this week as demand for artificial intelligence chips remains sky high.

But that didn’t seem to matter to Wall Street.

TSMC reported a 58% increase in first-quarter profits Thursday, beating estimates and hitting a new record. It was the fourth-consecutive quarter of record profits for the world’s largest chip manufacturer.

“AI-related demand continues to be extremely robust,” President and CEO of TSMC C.C. Wei said in an earnings call Thursday.