Taiwan Semiconductor Manufacturing Co. (TSM) has reported a 45% year-over-year increase in its July sales as demand for artificial intelligence (A.I.) microchips continues to grow.
Sales during July totaled NT$256.95 billion ($7.9 billion U.S.). Taiwan Semiconductor reports its revenue figures on both a monthly and quarterly basis.
Revenue from January through July of this year increased 31% compared with the same period in 2023, the company said in a news release.
Taiwan Semiconductor, which produces about three-quarters (75%) of all the microchips and semiconductors in the world, has raised its forward guidance several times this year as orders to fabricate A.I. microchips accelerate.
Taiwan Semiconductor is currently forecasting full-year revenue growth of about 25%. High-performance microchips that can power A.I. models and applications now account for more than half of the company’s sales.
Taiwan Semiconductor dominates the market for high-end microchips and processors and counts Nvidia (NVDA), Apple (AAPL) and Advanced Micro Devices (AMD) among its customers.
The stock of Taiwan Semiconductor has risen 75% over the last 12 months to trade at $164.55 U.S. per share.
