Global Market: TSMC to invest additional $100 billion in Arizona, raises capex on booming AI demand

TSMC announced an additional $100 billion investment in Arizona, taking its total U.S. commitment to $165 billion, and lifted its 2026 capex outlook to $60-64 billion from the prior higher end of $52-56 billion. The chipmaker reported Q2 net profit up 77% year-on-year at a record T$706.6 billion ($22 billion) versus analyst estimates of T$632.6 billion, and raised its full-year revenue growth forecast to slightly above 40%. The outlook underscores sustained AI infrastructure spending, with read-through positive for the broader semiconductor and equipment ecosystem including Nvidia, Apple as clients and ASML as equipment supplier.