Taiwan Semiconductor Manufacturing Company (TSMC) reported a significant increase in its second-quarter net profit, rising by about 61%. This growth was boosted by strong demand for artificial intelligence (AI) chips.
The company serves as a contract chipmaker for major clients such as Nvidia and Apple. TSMC’s latest earnings not only beat market expectations but also marked a new record high for the company’s quarterly profits.
TSMC’s performance highlights the rising importance of AI technology, as companies around the world seek more advanced chips to power their products and services.
TSMC's profit rose due to strong demand for chips used in artificial intelligence, especially from major customers like Nvidia.
Some of TSMC's biggest customers include Nvidia and Apple.
TSMC manufactures computer chips for technology companies that design their own chips but do not build them.
CNBC
Reuters
Market Watch
Invezz
CNBC International TV
TechXplore
Investors Business Daily
Seeking Alpha
The Motley Fool
Yahoo Finance
MarketBeat