Taiwanese chip manufacturer TSMC announced on Thursday ( Jul 18 ) that generative artificial intelligence products ‘ global demand boosted net profit by 36 % in the second quarter of 2024.
More than half the country’s silicon wafer production is controlled by Taiwan Semiconductor Manufacturing Company, which has customers including Apple and Nvidia. These products are used in everything from smartphones to cars to weapons.
Following the enormous victory of ChatGPT, TSMC is now advancing the development of the most cutting-edge microchips needed to power Silicon Valley-made items.
The company said it made US$ 7.6 billion in April-June, away from US$ 5.6 billion in the same time last year.
Second-quarter incomes rose 32 per share on-year to US$ 20.82 billion, it added in a statement.
” Advanced systems, defined as 7-nanometer and more sophisticated technology, accounted for 67 per share of total chip income”, it said.
The company, which is listed in Taiwan and New York this month, recently broke the US$ 1 trillion market capitalization cap, placing it back of Tesla as the seventh-most significant engineering firm.
Its offices- and the bulk of its construction vegetation- are in Taiwan, a self-ruled area that China claims as part of its territory.
Beijing has in recent years ramped up military and political pressures on Taiwan, upping the language of “unification” being “inevitable”.