By Anshuman Tripathy

(Reuters) -TE Connectivity issued an upbeat first-quarter forecast on Wednesday, after beating Wall Street estimates for profit for the preceding three months, aided by strong demand for its artificial intelligence-focused products.

Shares of the company rose 9% in premarket trading.

Demand for AI-related products and hardware in the U.S. has spurred huge investments from Big Tech companies and Silicon Valley startups as they race to bank on AI technology behind services such as ChatGPT.

“We are going to continue to have the AI momentum next year, we continue to see program ramps there and the energy infrastructure build-out in the United States,” CEO Terrence Curtin told Reuters in an interview.

Adjusted profit per share for the first quarter is projected at abou

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