60 percent plus

Profits explode at chip giant TSMC

Photo from a TSMC processor factory in Taiwan(Bild: Taiwan Semiconductor Manufacturing Co., Ltd.)

The AI hype and the associated run on high-performance processors is boosting the semiconductor industry: TSMC, the global market leader in chip production from Taiwan, posted another massive increase in profits in April.

With a good 236 billion Taiwan dollars (6.76 billion euros), the group reported a year-on-year increase in profits of almost 60 percent on Friday. In March, TSMC had already recorded an increase of a good 34 percent.

The Taiwan Semiconductor Manufacturing Company is the world's largest manufacturer of semiconductors. The company supplies US companies including Apple and Nvidia - the latter is a leader in high-performance chips for highly complex AI applications.

Last month, TSMC reported a 13% increase in profits for the first quarter of 2024 to the equivalent of 17.5 billion euros. In the second quarter, the company expects growth to be more than twice as strong at 27.6 percent.