Following its earnings announcement, Taiwan Semiconductor Manufacturing Company (TSMC) (TSM, Financial) saw its stock rise 2.9% in the U.S. market, reaching $244.5. The second quarter results showed a significant net profit of 398.3 billion TWD, marking a substantial increase of 60.7% compared to the previous year and surpassing market expectations.
The remarkable growth was primarily driven by the soaring demand for semiconductors in the artificial intelligence sector. This demand surge has positioned TSMC to achieve historic profit levels, reflecting its strategic advantage in cutting-edge technology applications.
