Taiwanese chip giant TSMC announced a 40% increase in revenue on Thursday during the first six months of the year, driven by strong demand for artificial intelligence (AI) technologies.
TSMC, the world's largest chipmaker, has become the backbone of the global economy, powering everything from smartphones to missiles.
TSMC, whose customers include tech giants Nvidia and Apple, announced in a statement that its revenue for the first half of the year rose 40% to NT$1.77 trillion ($60.8 billion) compared to the previous year.
Chairman and CEO Si Si Wei said at a recent press conference that TSMC expects to achieve record profits this year, as demand for AI will remain "very strong."
The company's sales have surged in recent months after tariffs announced by US President Donald Trump prompted companies to stockpile goods, fearing higher tariffs.
Wei assured shareholders in June that TSMC's business "may be affected" if the tariffs lead to higher prices and lower demand for chips, but added, "Our business will remain very good."
Taiwan's government announced Thursday that it had not yet received a letter from the United States regarding the tariffs, as a delegation from the United States is currently negotiating in Washington.
Neighboring Japan and South Korea were among more than 20 countries that received letters this week from Trump warning them of "reciprocal" tariffs starting August 1.
Taipei has sought to avoid Trump's threatened tariffs by pledging to increase investment in the United States, boost American energy purchases, and increase defense spending.
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