Texas Instruments' stock jumps 18%, heads for best day since 2000 as AI demand soars

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Texas Instruments

headed for its best day on Wall Street since 2000 after the chipmaker reported better-than-expected quarterly results and gave upbeat guidance due to high demand for its analog chips that are crucial for the AI data center buildout.

Shares of Texas Instruments soared 18% on Thursday and are trading at a record, up about 60% for the year.

For the first quarter, Texas Instruments reported revenue growth of 19% to $4.83 billion, topping the $4.53 billion average analyst estimate, according to LSEG. Earnings per share of $1.68 also beat estimates, as analysts on average predicted EPS of $1.27.