TSMC second-quarter revenue jumps on AI boost


A logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023. (Photo by Amber Wang / AFP)

Amber Wang | Afp | Getty Images

TSMC, the world’s largest contract chipmaker, reported strong growth in second-quarter revenue on Wednesday that handily beat market forecasts, on the back of booming demand for artificial intelligence (AI) applications.

Taiwan Semiconductor Manufacturing Co, whose customers include Apple and Nvidia, has benefited from the surge towards AI that has helped it weather the tapering off of pandemic-led demand and pushed TSMC’s share price to a record high.

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