TSMC Q2 revenue jumps on AI boost, handily beats market forecasts

Illustration shows TSMC (Taiwan Semiconductor Manufacturing Company) logo

TAIPEI (Reuters) -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.

Revenue in the April-June period of this year came in at T$673.51 billion ($20.67 billion), according to Reuters calculations, compared with an LSEG SmartEstimate, drawn from 21 analysts, of T$654.27 billion.

Full story at Yahoo News.

By Ben Blanchard and Faith Hung