TSMC rides AI demand to raise Q3 revenue forecast

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TAIPEI :Taiwan's TSMC, the world's largest contract chipmaker, forecast on Thursday its revenue in the current quarter will increase by as much as 34 per cent, driven by robust demand for semiconductors used in artificial intelligence.

The bellwether for the chip industry has benefited from a surge in adoption of AI that has helped it weather the tapering off of pandemic-led electronics demand.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC), a major Apple Inc and Nvidia supplier, also posted a second-quarter profit that beat market expectations.

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Article Details

Category: EconomyBusiness

Markets: SingaporeTaiwan

Topics: Quarter Profit Demand Cent Semiconductor Conference Company Smartphone Tsmc Billion Revenue

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-18 @ 08:03:04 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 421 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 21672096

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