Markets appear to be closing out a turbulent week on a higher note. Nvidia partner Taiwan Semiconductor Manufacturing Co. (TSM) said revenue rose 45% year over year in July, indicating brisk demand for the chips that have powered the artificial intelligence (AI) boom. Paramount Global (PARA) announced 2,000 job layoffs and wrote down nearly $6 billion in the value of its cable TV networks. SoundHound AI (SOUN) shares are falling slightly in premarket trading after rising 21% on Thursday on beaten earnings forecasts and a deal to buy an AI software company that is expanding its influence in the hot technology. And “Grand Theft Auto” maker Take-Two Interactive Software (TTWO) is gaining after revenue beat analyst estimates. Here’s what investors need to know today.

1. US stocks likely to end volatile week with gains

U.S. stock futures are rising slightly as stocks seek to end a volatile week on a positive note. The week began on Monday with a global plunge fueled by U.S. recession fears and an unwinding of the yen carry trade. Major stock indexes rose on Thursday as data showing the labor market remained robust led the S&P 500 and Nasdaq Composite to post their biggest point gains since late 2022. The yield on the 10-year Treasury note is now at 3.91%, after falling earlier in the week to close at 3.70%, its lowest in more than a year.

2. TSMC revenue rises 45% in July, driven by strong demand for AI chips

Taiwan Semiconductor Manufacturing Co. (TSM), the world’s largest contract chip maker, said sales rose 45% in July compared with the same period last year, showing brisk demand for the chips that have powered the artificial intelligence (AI) boom. Revenue for the month reached 256.95 billion new Taiwan dollars ($7.93 billion), while revenue rose 30.5% between January and July. TSMC reported second-quarter results last month that beat analysts’ estimates on booming AI demand, and forecast third-quarter revenue to rise as much as 33%. TSMC supplies chips to both AI darling Nvidia (NVDA) and iPhone maker Apple (AAPL). TSMC’s American Depositary Receipts (ADRs) are up nearly 3% in premarket trading.

3. Paramount cuts 2,000 jobs and announces $6 billion in write-downs

Paramount Global (PARA) wrote down the value of its cable television networks by nearly $6 billion, a day after Warner Bros. Discovery (WBD) also took a massive writedown as streaming services like Netflix (NFLX) continue to disrupt traditional networks. Paramount Global also announced plans to cut at least $500 million in costs annually and cut about 2,000 jobs, or 15% of its U.S. workforce, the owner of CBS, MTV and Nickelodeon said in its earnings call. Still, investors welcomed news of the cuts, with Paramount shares rising nearly 6 percent in premarket trading. Paramount, whose majority shareholder, Shari Redstone’s National Amusements, reached an agreement to merge with Skydance Media last month after months of negotiations, also reported an 11 percent drop in second-quarter revenue to $6.81 billion. This included a 17 percent decline in its TV media division, which was “primarily due to fluctuations in licensing revenues.”

4. SoundHoundAI falls slightly after rising 21% on Thursday

SoundHound AI (SOUN) shares reversed course and are slightly down in premarket trading after rising 21% on Thursday as the speech-generating artificial intelligence (AI) provider announced the acquisition of AI software company Amelia for $80 million, a deal aimed at expanding its conversational AI presence to new industries and brands. SoundHound also reported second-quarter profit and revenue that exceeded forecasts, but its loss widened.

5. “Grand Theft Auto” maker Take-Two Interactive records jump in sales

Take-Two Interactive Software (TTWO) shares rose nearly 7% in premarket trading after the video game developer reported higher-than-expected revenue for its latest quarter. The company, which produces the hit “Grand Theft Auto” games, reported revenue of $1.34 billion for the first quarter of fiscal 2025, above the consensus of analysts surveyed by Visible Alpha. Take-Two expects net bookings to increase sequentially in fiscal 2026 and 2027. “Grand Theft Auto VI” is scheduled for release in fall 2025.