TSMC Sales Soared 45% in July on Strong AI Demand
TSMC’s Sales Growth Stages a Comeback in 2024 After Down Year
World’s leading contract chipmaker accelerated growth in July.
Tweet on TSMC AI chip sale
TSMC Sales Soared 45% in July on Strong AI Demand
World’s leading contract chipmaker accelerated growth in July#tsmc #chips #ai pic.twitter.com/NwT0hbWKmq— The_Journalbiz (@the_journalbiz) August 14, 2024
Bloomberg chart
Taiwan Semiconductor Manufacturing Co.’s revenue rose 45% in July, accelerating its pace of growth from the June quarter and bolstering hopes for sustained strong demand for artificial intelligence chips from Nvidia Corp.
Sales for the month reached NT$256.95 billion ($7.9 billion). For the third quarter, analysts project TSMC revenue to grow 37% to NT$747.4 billion, with the July result suggesting TSMC may surpass those expectations.
Taiwan’s biggest company is one of the key forerunners for AI demand, as the go-to chipmaker for leading accelerator makers Nvidia and Advanced Micro Devices Inc. It’s also the sole supplier of processors for Apple Inc.’s iPhones, at a time the mobile device market is showing signs of bouncing off post-Covid era lows. Last month, the world’s largest contract chipmaker raised its full-year growth outlook to beyond the maximum mid-20% it had guided toward previously.
