TSMC net profit for Q2 jumps on growth in AI
TSMC on Thursday said it expects third-quarter revenue to surge by as much as 34 percent from a year earlier after the world's largest contract chipmaker posted a quarterly net profit that beat market expectations. Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker and a major supplier for US tech giants Apple and Nvidia, has benefited from a surge towards the adoption of AI. TSMC's April-June net profit climbed to T$247.8 billion (US$7.60 billion) from T$181.8 billion a year earlier. The profit beat a T$238.8 billion forecast for the quarter which ended June 30. TSMC, Asia's most valuable publicly listed company, said second-quarter revenue rose 33 percent year-on-year to US$20.8 billion, better than the company's previous forecast of between US$19.6 billion and US$20.4 billion.  Revenue for the current quarter is expected to be at least US$22.4 billion compared with US$17.3 billion in the same period last year. (Reuters)