Welcome to Markets Desk, here's what's moving the tape this hour.
TSMC delivered a sixth consecutive quarter of record profit, beating estimates as artificial intelligence demand continues to drive outsized orders for advanced chips. The results underscore just how central the Taiwanese foundry has become to the global technology supply chain, with margins holding firm despite ongoing capital expenditure pressure.
That partnership traces back further than most realize. Jensen Huang revealed this week that he found TSMC in the Yellow Pages in the early days of Nvidia, wrote a letter directly to founder Morris Chang after his calls went unanswered, and that single exchange launched a thirty-year relationship that now underpins the entire AI hardware buildout. It is a remarkable origin story for what became one of the most consequential industrial partnerships in modern technology.
Across the Atlantic, the United Kingdom posted gross domestic product growth of zero point one percent in August, a modest beat against expectations that nonetheless signals the economy is holding its footing. The reading offers the Bank of England some breathing room as it weighs the pace of rate adjustments heading into the final stretch of the year.
That's the tape. Markets Desk, signing off the floor.
