TSMC’s August Revenue Climbs 33% as AI Chip Demand Holds Up
- Growth is robust though down slightly from July’s pace
- Investors have been concerned about the pace of AI spending
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Taiwan Semiconductor Manufacturing Co.’s revenue rose 33% last month, in a positive signal to investors betting on a smartphone market recovery and sustained demand for Nvidia Corp.’s AI chips.
Sales reached NT$250.9 billion ($7.8 billion) in August, slowing from the previous month’s 45% growth pace. For the third quarter, analysts expect TSMC’s revenue to grow 37%, extending a recovery from the post-Covid depths of 2023.