TSMC Outlook Beats Estimates as AI Demand Helps Propel Business

Yahoo Finance— (Bloomberg) -- Taiwan Semiconductor Manufacturing Co. expects revenue to rise as much as about 30% this quarter, reflecting a boom in AI development that’s boosting demand for the advanced chips it makes for the likes of Nvidia Corp.Most Read from BloombergDubai Grinds to Standstill as Cloud Seeding Worsens FloodingRed Lobster Considers Bankruptcy to Deal With Leases and Labor CostsTesla Asks Investors to Approve Musk’s $56 Billion Pay AgainElon Wants His Money BackSingapore Loses ‘World’s Best

CNBC—TSMC beats first-quarter revenue and profit expectations on strong AI chip demand. TSMC is the world's largest producer of advanced processors and counts companies such as Nvidia and Apple as its clients.

Mobile World Live—TSMC hikes revenue target on AI server demand. Taiwan Semiconductor Manufacturing Company issued an optimistic revenue target for the current quarter after reporting a near double-digit rise in net profit in the opening quarter of 2024, fuelled by brisk demand for chips supporting AI applications.

Yahoo Finance—Qualcomm forecast beats estimates as AI revives smartphone market. Qualcomm on Wednesday forecast fiscal third-quarter sales and adjusted profit above Wall Street expectations, driven by a faster-than-expected recovery in smartphone markets thanks to artificial-intelligence features. The company has also branched out into selling chips for cars and devices such as headphones, which in the second quarter helped it beat Wall Street expectations. The company said its sales to Chinese smartphone makers have grown 40% in the first half of its fiscal year, a sign...