TSMC’s Q2 Profit Surges 36%, Exceeds Expectations

Taiwanese chipmaker TSMC (2330.TW) reported a 36% increase in second-quarter net profit on Thursday, surpassing market expectations, driven by a surge in demand for semiconductors used in artificial intelligence applications. Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world’s largest contract chipmaker and a key supplier for Apple (AAPL.O) and Nvidia (NVDA.O), saw its net profit for April-June rise to T$247.8 billion, up from T$181.8 billion the previous year. This profit exceeded the LSEG SmartEstimate of T$238.8 billion, which is based on forecasts from consistently accurate analysts.