Investing.com - Taiwan Semiconductor Manufacturing reported a strong increase in sales in August. The world's largest contract manufacturer of chips increased its revenues by 33.8 percent to 335.8 billion Taiwan dollars (11.1 billion US dollars), the company announced on Wednesday.
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From January to August, sales totaled 2.43 trillion Taiwan dollars, an increase of 37.1 percent compared to the previous year. Compared to July, revenue in August was 3.9 percent higher. The figures indicate that TSMC is heading for a strong third quarter.
This development is being driven by an unbroken high demand for specialized chips for applications in the field of artificial intelligence. The major US technology groups in particular are continuing to invest billions in the expansion of their data centers. TSMC is a key supplier to Nvidia, the leading manufacturer of high-performance processors for AI applications. Nvidia gave an optimistic outlook for demand just last month.
In addition to server chips, TSMC is also seeing signs of a recovery in demand from the consumer electronics sector. However, geopolitical tensions are having a negative impact: According to reports, Washington recently withdrew the Group's authorization to supply certain manufacturing equipment to its Chinese plants without restriction. This could have a negative impact on business in an important sales market.
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