What happened 

Investors gave Nvidia's (NVDA -0.46%) share price a boost today after they found out that Warren Buffett's Berkshire Hathaway bought shares of Taiwan Semiconductor Manufacturing in the third quarter.

Berkshire's purchase of the stock gave semiconductor stocks a lift this morning, including Nvidia's, in part because it is Buffett's first purchase of a semiconductor stock. Nvidia's share price was up by 2.1% as of 10:51 a.m. ET.

So what 

Berkshire noted in a recent Securities and Exchange Commission (SEC) filing that it bought more than $4 billion worth of Taiwan Semiconductor -- about 60 million shares -- in the third quarter. 

Any move Buffett makes is always closely followed by investors and considering that he usually stays away from the technology sector, except for his notable investment in Apple, semiconductor investors paid special attention to the news today. 

And while his company didn't disclose any investments in Nvidia, the fact that Berkshire is bullish on the semiconductor industry was enough to send Nvidia's share price higher this morning.

Adding to the positive sentiment today was the fact that the Producer Price Index rose 0.2% in October, below economists' estimate of 0.4%. Investors are optimistic that this is yet another indication that inflation may be slowing. 

Investors are hoping that signs of slowing inflation could end up encouraging the Federal Reserve to slow its pace and intensity of interest rate increases. 

Now what 

Nvidia will report its third-quarter results tomorrow, which will give investors a clearer picture of how the company is doing right now.

Nvidia's second-quarter (ended July 31) results underwhelmed investors as sales growth slowed. Analysts' consensus non-GAAP (adjusted) earnings estimate for Nvidia's third quarter is $0.69 per share, which would be down from earnings of $1.17 in the year-ago quarter.