TSMC's second quarter profits increased by over 60% year-on-year, driven by strong demand for artificial intelligence chips.

Taiwan Semiconductor Manufacturing Company (TSMC) announced on Thursday that its second-quarter profit increased by nearly 61% year-on-year, surpassing expectations, driven by strong demand for artificial intelligence chips. According to reports, TSMC's net profit in the second quarter reached a record high. As the world's largest contract chipmaker, TSMC benefits from the growing trend of artificial intelligence, producing advanced AI processors for customers such as NVIDIA and Apple. "The main driver of TSMC's growth is the strong demand for AI-related chips, especially those below 7 nanometers in advanced process nodes," said Brady Wang, Vice President of Counterpoint Research. "The demand brought by the AI boom is highly sustainable in the short term, as AI is still in its early stages and continues to expand into various industries," Wang added.