Taiwan’s TSMC second-quarter net profit jumps on Gen AI demand [Video]

Taiwan chip giant TSMC said Thursday net profit jumped by more than a third in the second quarter of 2024, buoyed by global demand for generative artificial intelligence products.

Taiwan Semiconductor Manufacturing Company — whose clients include Apple and Nvidia — controls more than half the world’s output of silicon wafers, used in everything from smartphones and cars to missiles.

Following the runaway success of ChatGPT, the company is now at the forefront of a generative AI revolution, churning out the world’s most advanced microchips needed to power products made by Silicon Valley.

The firm said it made NT$247.8 billion (US$7.6 billion) in April-June, up 36 percent from NT$181.8 billion in the same period last year.

Second-quarter revenues rose 32 percent on-year to US$20.82 billion, it added …