TSMC said third-quarter revenue rose 51% year over year, pointing to strong demand for AI chips. Despite the upbeat signal, TSMC shares fell. Other chip stocks, including Advanced Micro Devices (AMD), also weakened and did not rally on the results.

Applied Digital released its latest earnings report, posting a 322% year-on-year surge in revenue. The results indicate the company’s data center strategy is gaining traction. The company is focused on AI computing infrastructure. Its rapid growth suggests its push into high-performance computing is starting to deliver tangible returns.

Accenture reported earnings that topped market expectations, indicating it has managed the impact of artificial intelligence on the consulting business. The results prompted the stock to log its largest single-day gain on record.

Kodiak Sciences said its wet age-related macular degeneration drug candidate Zenkuda met its clinical trial goals, clearing the way for a regulatory submission. The company said it plans to file the treatment for approval. The update sent Kodiak’s shares up 183% in a single session. Zenkuda is positioned to compete directly with Regeneron’s blockbuster Eylea, drawing heightened investor attention.

Costco’s latest earnings report came in above market expectations. Membership fee revenue rose 7.3% year over year to $1.5 billion, extending the slowdown in growth to a third straight quarter. Investors focused on the decelerating pace, leaving the stock little changed after the release.

IBM has received a grant from the U.S. Commerce Department to build the first standalone quantum chip foundry in the United States, named “Anderon.” The project is framed as a major step forward in domestic quantum-computing hardware manufacturing capacity.

Bank of America CEO Brian Moynihan said at a meeting on Monday that the bank’s third-quarter sales and trading revenue will be flat. The remark sparked a selloff in bank stocks.

Oracle co-founder and CTO Larry Ellison has withdrawn his plan to sell 50 million shares of the company. The move eased investor concerns about a large-scale selloff. It also signaled management confidence in the outlook.

Google said it will invest $15 billion in Finland to build AI infrastructure. The company aims to use the country’s cold climate to help reduce the energy burden associated with AI operations.