While TSMC issued upbeat commentary on the state of the AI market, Wall Street perhaps already had that confidence.

Nvidia stock posted an intraday record Thursday after billionaire investor Stanley Druckenmiller said selling shares of the chip maker was a “big mistake” and Taiwan Semiconductor Manufacturing’s earnings revealed just how right that statement is.

Nvidia’s stock surged to a new record on Thursday as investors reignited interest in artificial intelligence, marking a significant gain after a brief summer slowdown. The stock climbed more than 3% intraday,