TSMC Foresees 34% Revenue Surge Amid AI Demand

TSMC, the world's largest contract chipmaker and a key Apple and Nvidia supplier, anticipates a 34% revenue increase this quarter due to high AI semiconductor demand. The company reported a second-quarter profit of $7.60 billion, surpassing market expectations, despite recent political comments causing share price drops.

TSMC, the global leader in contract chip manufacturing, has predicted a remarkable 34% surge in its third-quarter revenue fueled by robust demand for AI semiconductors. This development follows a second-quarter profit report that significantly surpassed market projections.

The semiconductor giant, a primary supplier for both Apple Inc. and Nvidia, has managed to counterbalance the decline in pandemic-driven electronics demand with the rise in AI adoption. The company's net profit from April to June soared to T$247.8 billion ($7.60 billion), a notable increase from T$181.8 billion in the same period last year.

Despite recent political tensions and comments from U.S. presidential candidate Donald Trump, which briefly affected TSMC's share prices, the company's Taipei-listed stocks closed down by only 2.4% on Thursday. Notably, TSMC's Chairman and CEO C.C. Wei dismissed the idea of a joint venture in response to these political remarks.