Taiwan Semiconductor Manufacturing Co.’s revenue rose a better-than-anticipated 39% in the June quarter, buoying expectations for a sustained post-ChatGPT boom in AI spending.
Sales for the chipmaker to Nvidia Corp. and Apple Inc. climbed to NT$934 billion ($32 billion) for the three months, based on its reported monthly revenue. That beat the average analyst projection for about NT$928 billion.
As the world’s largest contract chipmaker, TSMC sits at the heart of the global technology supply chain, producing cutting-edge chips for iPhones and Nvidia’s AI offerings.
While Nvidia is fueling its growth, TSMC remains reliant on Apple and smartphone makers for most of its business.
For 2025, investors remain wary about the impact of tariffs on the global economy and the electronics sector.
The Trump administration’s trade war is prompting economists to scale back their forecasts for gross domestic product growth worldwide, casting doubt over the outlook for everything from iPhone demand to computing.
