TSMC Expected to Report 30% Profit Growth Driven by AI Chip Demand

Monday, 15 July 2024, 00:52

Taiwan Semiconductor Manufacturing Co, the world's leading chipmaker, anticipates reporting a remarkable 30% increase in second-quarter profit fueled by the surging demand for AI chips. With a notable rise in the adoption of artificial intelligence technologies, TSMC's financial performance has been on an upward trajectory, reflecting the company's pivotal role in the AI market. Analysts predict a net profit of T$236.1 billion ($7.25 billion) for the quarter ending June 30, showcasing TSMC's continued success in meeting the demands of tech giants like Apple and Nvidia.

Yahoo Finance — TSMC Expected to Report 30% Profit Growth Driven by AI Chip Demand

TSMC Second-Quarter Profit Overview

Taiwan Semiconductor Manufacturing Co, the main producer of advanced chips used in artificial intelligence applications, is expected to report a 30% rise in second-quarter profit on Thursday thanks to soaring demand.

Key Points:

Booming AI Chip Demand: TSMC anticipates substantial profit growth driven by increased demand for AI chips.
Market Performance: TSMC's stock and Taiwan market have reached record highs due to the surge in AI adoption.
Financial Outlook: Analysts project a net profit of T$236.1 billion for the quarter ended June 30.

Overall, TSMC's strong financial performance mirrors the growing significance of AI chip demand in the technology industry, positioning the company as a key player in meeting market needs.

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.

TSMC Second-Quarter Profit Overview

Key Points:

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