Chipmaker TSMC posts strong Q2 revenue jump on AI demand

Taiwan Semiconductor Manufacturing Company (TSMC), the world's largest contract chip manufacturer, has seen its revenue surge in the second quarter, driven by the relentless demand for artificial intelligence (AI) technologies.

The Taiwanese giant announced that its earnings from April to June climbed by 36% compared to the same period last year. The company's revenue reached 1.27 trillion Taiwan dollars, which translates to approximately 34.64 billion euros. This figure surpassed the average expectations of analysts surveyed by LSEG, who had predicted revenues of 1.264 trillion Taiwan dollars.

TSMC, a key supplier for major tech firms including Apple and Nvidia, had initially planned to release its financial data earlier but postponed the announcement due to a typhoon. The company is scheduled to present its detailed quarterly results on Thursday. The strong performance underscores TSMC's critical role in the global semiconductor supply chain, particularly in powering the ongoing AI revolution.