In today’s newsletter:Nvidia could reach $50tn market cap in a decade, says leading tech investorTop ECB official sounds alarm on shadow bankingUK... Read More...
TSMC second-quarter profit seen jumping 30% on surging AI chip demand
Taiwan Semiconductor Manufacturing Co, the main producer of advanced chips used in artificial intelligence applications, is expected to report a 30% rise in second-quarter profit on Thursday thanks to soaring demand. The world’s largest contract chipmaker, whose customers include Apple and Nvidia, has benefited from a surge towards AI that has pushed TSMC’s stock – and the broader Taiwan market – to record highs. TSMC is set to report a net profit of T$236.1 billion ($7.25 billion) for the quarter ended June 30, according to a LSEG SmartEstimate drawn from 20 analysts.
Reuters•
