Global Market: TSMC likely to post record Q2 profit as AI chip demand powers growth

Analysts expect TSMC's Q2 net profit to surge about 59 percent year-on-year to T$632.6 billion (around $19.65 billion), potentially marking its highest-ever quarterly net income and 10th straight quarter of profit growth. The earnings are driven by strong demand for 3-nanometre and 2-nanometre chips as well as advanced CoWoS packaging technology used in AI processors. TSMC, which serves as a key manufacturing partner for Nvidia and Apple, has already reported a 36 percent rise in Q2 revenue and may raise its full-year revenue growth forecast along with planned capital expenditure.