TSMC rides AI demand to raise revenue forecast, says no to US joint venture

Taiwan’s TSMC, the world’s largest contract chipmaker, raised its full-year revenue forecast on Thursday given surging demand for chips used in artificial intelligence, and rejected the idea of a joint venture factory in the United States.

Taiwan Semiconductor Manufacturing Co Ltd (TSMC), a major Apple Inc and Nvidia supplier, has benefited from the global AI boom that has helped it weather the tapering off of pandemic-led electronics demand.