TSMC, the world's largest contract chipmaker, reported record quarterly profits and raised its revenue outlook, driven by robust demand for AI chips. The Taiwan-based company also announced an additional $100 billion investment to expand its advanced chip manufacturing capacity in the US.
TSMC announced June revenue surged 67.9% year-on-year to NT$398.27 billion, pushing first-half revenue to NT$2.4 trillion. Q2 revenue of NT$1.27 trillion surpassed analyst forecasts, driven by robust AI demand and global manufacturing expansion.
Taiwan Semiconductor Manufacturing Company (TSMC) has re-entered the top 10 most valuable companies globally, driven by the artificial intelligence (AI) boom. Its stock rallied, pushing market capitalization to a record high, surpassing Broadcom, with analysts expecting further growth.
TSMC, the world's largest chipmaker, is facing challenges meeting demand from American customers, even with its US factory expansion. CEO C.C. Wei cited high customer demand and the AI boom as key factors, noting that US-based production will take time to scale.
TSMC Chairman C.C. Wei stated the company is "not afraid" of competition from China, citing its manufacturing leadership. He reassured investors about TSMC's Nanjing plant and dismissed asset risks amid China's push for semiconductor self-sufficiency.
