TSMC shares soar after bullish outlook

Taiwan Semiconductor Manufacturing Company (TSMC) logo is seen near computer motherboard in this illustration taken January 8, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

TAIPEI (Reuters) - Taipei-listed shares of Taiwanese chipmaker TSMC opened up 6% on Friday after the company projected more than 20% growth in 2024 revenue on booming demand for high-end chips used in artificial intelligence (AI) applications.

The outlook also cheered the broader market, which rose 2%.

(Reporting by Ben Blanchard; Editing by Tom Hogue)