The AI hype and the related run on powerful processors are inspiring the semiconductor industry: TSMC, the world market leader in chip production from Taiwan, posted another huge profit increase in April.
With more than 236 billion Taiwan dollars (6.76 billion euros), the group reported a profit growth of almost 60 percent on Friday compared to the same month last year. In March, TSMC already recorded an increase of more than 34 percent.
Taiwan Semiconductor Manufacturing Company is the world’s largest semiconductor manufacturer. The company supplies, among others, the American companies Apple and Nvidia – the latter is a leader in powerful chips for very complex AI applications.
For the first quarter of 2024, TSMC reported a 13 percent increase in profit, to the equivalent of 17.5 billion euros last month. In the second quarter, the company expects growth to be more than twice as strong, namely 27.6 percent.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
