TSMC to invest another $100 billion in US as Q2 profit blows past forecasts

TAIPEI: TSMC, the world’s main producer of advanced AI chips and a major ‌supplier to Nvidia, ⁠pledged on ⁠Thursday to invest a further $100 billion in the U.S. state of Arizona and said it was still seeing robust AI-driven demand for chips.

Riding the AI boom, TSMC also raised its forecast for capital spending by up to 14% for this year.

The upbeat outlook came after Taiwan Semiconductor Manufacturing Co, a bellwether for AI chip demand, posted a 77% jump in second-quarter profit to a record high of T$706.6 billion ($22 billion), beating a market forecast of T$632.6 billion and marking its ninth straight quarter of ⁠double-digit percentage growth.