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TSMC posts surge in AI-driven earnings and plans more US spend
Second-quarter revenue rose 36% year over year, and net income jumped 77.4% as the chipmaker said demand should continue into the current quarter.
Taiwan Semiconductor Manufacturing Co. delivered blowout earnings, citing strong AI-related demand, and said it will increase spending to expand its United States footprint. Yahoo Finance said TSMC reported second-quarter revenue up 36% year over year and net income up 77.4% versus the prior year period.
The semiconductor manufacturer, which produces chips for major technology companies including Apple, AMD, Nvidia, and Qualcomm, also highlighted the durability of demand. In comments attributed to CFO Wendell Huang, TSMC said Q2 results were supported by strong demand and expects it to continue into the current quarter as tech firms seek as many AI chips as possible.
Yahoo Finance also included recent developments across the AI supply chain, pointing to Moonshot AI’s launch of its Kimi K3 model. The outlet noted the model is described as frontier-level on certain benchmark tests and that the company’s approach emphasizes open-weight models, while many top US rivals focus on proprietary systems.
The roundup contrasted TSMC’s momentum with other industry signals, including IBM’s preannouncement of weaker-than-expected performance. Yahoo Finance said IBM warned that its revenue and earnings per share would fall well below analysts’ expectations as customers shifted spending away from parts of its business tied to the company’s guidance.