TSMC’s July Sales Grow 26% on Sustained Demand for AI Chips

Taiwan Semiconductor Manufacturing Co. reported a 26% growth spurt in July, adding to evidence of accelerating spending on artificial intelligence.

The go-to chipmaker for AI hardware providers Nvidia Corp. and Advanced Micro Devices Inc. said on Friday that sales last month totaled NT$323.2 billion ($10.8 billion). That growth is in line with analyst expectations of a 25% increase in the company’s third-quarter revenue.