TSMC Thrives with 36% Profit Surge Amid AI Chip Demand

Taiwanese chipmaker TSMC posted a remarkable 36% rise in second-quarter net profit, driven by increased demand for semiconductors in AI applications. The company, a significant supplier for Apple and Nvidia, reported profits of T$247.8 billion, surpassing market expectations and reaffirming its robust position in the industry.

Taiwanese chipmaker TSMC has reported a significant 36% rise in second-quarter net profit, exceeding market predictions as it benefits from the rising demand for semiconductors in artificial intelligence applications.

TSMC, the world's largest contract chipmaker and a crucial supplier for technology giants Apple and Nvidia, saw its profits soar to T$247.8 billion for the April-June period, up from T$181.8 billion during the same time last year.

The profit figure outperformed the T$238.8 billion forecast by LSEG SmartEstimate, a measure favoring predictions from consistently accurate analysts, highlighting TSMC's strong performance in the competitive semiconductor market.

(With inputs from agencies.)