The company's stock surged approximately 5-8% to a record high, driven by strong quarterly results and a bullish capital expenditure forecast from its major customer, Taiwan Semiconductor Manufacturing. Several financial firms upgraded or initiated positive coverage, citing strong confidence. The company is seen as a key beneficiary of booming AI demand, which is expected to sustain growth despite anticipated revenue declines from China due to export restrictions. The stock has risen 165% over the past year.