TSMC revenue increases by 33% in August as AI chip demand holds up

Taiwan Semiconductor Manufacturing Co.’s revenue rose 33% last month, in a positive signal to investors betting on a smartphone market recovery and sustained demand for Nvidia Corp.’s AI chips.

Sales reached NT$250.9 billion ($7.8 billion) in August, slowing from the previous month’s 45% growth pace. For the third quarter, analysts expect TSMC’s revenue to grow 37%, extending a recovery from the post-Covid depths of 2023.