Nvidia shares hit another record high Thursday as concerns earlier this week about a softening in the semiconductor market was eased by TSMC's earnings report.

All members of the PHLX Semiconductor Index were in positive territory Thursday as TSMC offered upbeat commentary on the sector.

Taiwan Semiconductor Manufacturing Company, the world’s largest chipmaker, has further raised its growth outlook on the back of an artificial intelligence boom and a broad-based recovery in other sectors,