Taiwan Semiconductor Manufacturing Co. (TSMC) is anticipating a 30% increase in revenue this quarter, driven by the surge in demand for its advanced chips, particularly from companies like Nvidia Corp. This positive outlook comes after the company reported its first profit increase in a year, fueled by strong AI demand that has boosted growth at the world’s largest contract chipmaker.
In the June quarter, TSMC expects to generate revenue of between $19.6 billion and $20.4 billion, higher than earlier estimates of around $19.1 billion. The company attributes this growth to the rising demand for chips that accelerate artificial intelligence development, which is helping to offset the impact of a slowdown in the smartphone market.
TSMC’s market value has increased significantly since October 2022 due to investors’ confidence in the company’s positioning to benefit from global AI development trends. For 2024, TSMC has set a capital expenditure budget of $28 billion to $32 billion. In March 2023, TSMC recorded a 9% rise in net income to NT$225.5 billion ($7 billion), outperforming expectations.
Looking ahead, TSMC expects revenue to grow by at least 20% for the full year as the semiconductor market rebounds. However, there are concerns about sustainability of current levels of AI chip demand and broader global macroeconomic environment risks posed by uncertainty in Taiwan Strait which can affect company’s operations
49ers edge rusher Nick Bosa has made a rare appearance at organized team activities this…
The Celtics' star Jayson Tatum met New England Patriots rookie quarterback Drake Maye before Game…
In northern Kentucky, libraries are playing an increasingly important role in promoting mental health awareness.…
The preparations for the next EU summit in Brussels began on Tuesday as European ministers…
In Frankfurt, the most significant trial against alleged traitors and terrorists took place, with Prinz…
Generative artificial intelligence (AI) tools like Chat-GPT have transformed the way we interact with machines.…