2024-07-10 17:05:00

Shares of Taiwan Semiconductor Manufacturing (NYSE:TSM) surged over 3% after reporting increased second-quarter sales driven by the AI boom and global data center investments. TSMC, the supplier of Nvidia’s and Apple’s advanced chips, saw June revenue of NT$207.9 billion, contributing to a 40% growth in the quarter, exceeding the 35.5% projection. The rise in AI chip orders has offset weak smartphone sales, with TSMC and other AI-related stocks boosting Taiwan’s Taiex Index by over 40% in the past year, despite US-China tensions.