The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters, in Hsinchu, Taiwan, January 19, 2021. REUTERS/Ann Wang/File Photo
TAIPEI: TSMC, the world's main producer of advanced AI chips, posted a 60% jump in second-quarter profit to record levels that handily beat market forecasts on Thursday, though U.S. tariffs and a strong Taiwan dollar could weigh on its outlook.
Benefiting from surging demand for advanced chips used in artificial intelligence applications, Taiwan Semiconductor Manufacturing Co said net profit for April-June climbed to T$398.3 billion ($13.53 billion), its fifth straight quarter of double-digit growth.
That was well ahead of a T$377.9 billion LSEG SmartEstimate drawn from 20 analysts.
Trump's trade policies and threats to put tariffs on semiconductors have created much uncertainty for the global chip industry and TSMC, whose customers include Apple and Nvidia.
TSMC announced plans for a $100 billion U.S. investment with Trump at the White House in March, on top of $65 billion pledged for three plants in the state of Arizona, one of which is up and running.
Taiwan-listed shares in TSMC surged some 80% last year but have climbed just 5% for the year to date on worries about tariffs and unfavourable currency exchange rates. - Reuters
