Taiwan Semiconductor Manufacturing Company (TSM, Financial), a key chip supplier for Nvidia and Apple, reported a 39% increase in quarterly revenue from April to June, surpassing expectations. The company's revenue reached 934 billion New Taiwan dollars ($32 billion), exceeding analyst projections of 928 billion New Taiwan dollars.
This announcement comes as Nvidia became the first company to reach a market capitalization of $4 trillion, highlighting renewed investor enthusiasm for companies like TSMC, which are crucial in building AI infrastructure. TSMC's President, C.C. Wei, stated that demand for AI chips continues to outstrip supply and reaffirmed the company's revenue growth forecast of mid-20% by 2025 in USD terms.
TSMC has committed to investing an additional $100 billion to expand manufacturing capabilities in Arizona, as well as increasing capacity in Japan and Germany to meet growing demand.
