Taiwan Semiconductor Manufacturing Co (ADR) (NYSE:TSM), the world’s largest contract chipmaker, reported second-quarter revenue of $31.9 billion, driven by strong demand linked to artificial intelligence applications.
This represents a near 39% increase from $23.8 billion in the same quarter last year, beating both market expectations and the company’s own guidance of $28.4 billion to $29.2 billion.
TSMC’s impressive growth reflects its critical role in supplying chips to leading technology firms, including Nvidia Corp (NASDAQ:NVDA, ETR:NVD).
The company will release full second-quarter earnings on 17 July, along with forecasts for the rest of the year.