TSMC’s August Sales Climb 34% in Latest Sign of Solid AI Demand

(Bloomberg) — Taiwan Semiconductor Manufacturing Co. (TSM, 2330.TW) posted a 34% rise in August revenue, signaling sustained global demand for cutting-edge AI silicon.

Nvidia Corp.’s (NVDA) main chipmaker reported sales last month totaled NT$335.8 billion ($11.1 billion). Analysts on average are looking for a roughly 25% increase for the September quarter.

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TSMC is one of the biggest beneficiaries of the post-ChatGPT AI boom because of its central role in the production of Nvidia accelerators, the gold standard for training algorithms. The Taiwanese company is also the world’s largest producer of the most advanced chips, including for Apple Inc.’s (AAPL) iPhones.

Its sustained growth lends credence to investors who see sustained AI spending in coming years, driven by widespread adoption of the technology.

On Tuesday, Oracle Corp. (ORCL) shares surged to a record after the company delivered an aggressive outlook for its cloud business, galvanizing hopes that the AI infrastructure build-out is accelerating. Last week, Broadcom Inc.’s (AVGO) stock rose after reports it’s secured orders for more than $10 billion of chips developed in concert with OpenAI (OPAI.PVT).

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