TSMC Reports Strong Q2 Revenue Growth Fueled by AI Demand

Wednesday, 10 July 2024, 07:51
TSMC, the leading chipmaker, exceeded market expectations with robust Q2 revenue growth driven by the increasing demand for AI applications. The surge in AI adoption has bolstered TSMC amid declining pandemic-led demand, propelling the company's stock price to new heights. While TSMC presents revenue data in Taiwan dollars monthly, quarterly figures and outlook are provided in U.S. dollars on earnings calls. The company's success underscores the pivotal role of AI in driving growth and resilience in the technology sector.
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TSMC Reports Strong Q2 Revenue Growth Fueled by AI Demand

TSMC Q2 Revenue Surge on AI Boost

TAIPEI (Reuters) - TSMC, the world's largest contract chipmaker, exceeded market forecasts with strong second-quarter revenue growth attributed to the rise in demand for artificial intelligence (AI) applications.

Booming AI Demand Benefitting TSMC

Taiwan Semiconductor Manufacturing Co, a key supplier to tech giants such as Apple and Nvidia, has capitalized on the AI trend to mitigate the impact of decreasing pandemic-induced demand, leading to a significant increase in its share price.

Revenue Reporting Details

  • Monthly revenue data is in Taiwan dollars
  • Quarterly revenue figures and earnings outlook disclosed in U.S. dollars during calls

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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