Taiwan Semiconductor Manufacturing (NYSE: TSM) stock is surging to a new all-time high Thursday. The semiconductor fabrication leader's share price was up 5.3% as of 10:15 a.m. ET. At the same point in the daily session, the S 500 was up 0.3%, and the Nasdaq Composite was up 0.7%. The chip stock had been up as much as 7.1% earlier in the session.

TSMC's valuation is roaring higher after the White House confirmed that the company will not be subject to a newly announced 100% tariff on semiconductors. The development looks to be a major positive catalyst for the company, and investors are responding by buying its stock in droves.

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