Home / Business and Economy / Taiwan Semi Fuels AI Boom: Profits Soar 35%
Taiwan Semi Fuels AI Boom: Profits Soar 35%
16 Jan
Summary
- Taiwan Semiconductor reported a 35% profit increase, marking eight consecutive quarters of growth.
- Insatiable demand for advanced AI technology products continues to drive company performance.
- Chip stocks, including Taiwan Semiconductor and Nvidia, hit new highs on Thursday.
Taiwan Semiconductor, the world's largest contract chipmaker, has significantly outperformed expectations, announcing a remarkable 35% profit increase. This achievement marks the company's eighth consecutive quarter of year-over-year profit growth, defying recent skepticism about the sustainability of the artificial intelligence boom. Management has indicated that demand for its advanced AI technology products remains exceptionally strong.
The company's strong earnings performance suggests that its key customers, including Nvidia, are also experiencing robust business. This positive outlook was reflected in the stock market, where chip stocks led the day's gains. Taiwan Semiconductor itself reached a new 52-week high, closing up 4.44%, while Nvidia saw a notable increase of 2.13%.
