TSMC's net profit rises 77% in second quarter

Taiwan-based TSMC, the world's largest chipmaker, reported a 77% increase in net profit for the second quarter of 2024 compared to the same period last year. The company's net profit for the quarter exceeded market expectations. This strong profit growth was driven primarily by sustained demand for artificial intelligence chips. TSMC plays a critical role in producing advanced chips used in AI applications. The company's revenue also saw a similar increase. TSMC's financial results for the second quarter successfully attracted investor attention. This is not investment advice.