TSMC raises revenue outlook on back of AI boom

TSMC expects revenue of as much as US$23.2bil this quarter, above analysts’ projections. — Bloomberg

Taipei: Taiwan Semiconductor Manufacturing Co (TSMC) raised its projections for full-year revenue growth after results beat estimates, riding a global wave of spending on artificial intelligence (AI).

The chipmaker for Apple Inc and Nvidia Corp now expects sales to grow more than the maximum mid-20% it had guided toward previously.