The world's leading chipmaker posted record profits for the sixth consecutive time

Taiwan-based TSMC, the market’s largest contract chip manufacturer, reported record profits for the past quarter—for the sixth consecutive time. Profits jumped nearly 69%, reaching 763.1 billion New Taiwan dollars ($23.6 billion) and significantly exceeding analysts’ forecasts. The company continues to grow rapidly despite mounting doubts about the long-term prospects for AI infrastructure development, according to Bloomberg.

TSMC’s results—as the sole manufacturer of the most advanced chips for Nvidia and Apple—serve as an important indicator of global demand for AI and could provide a counterargument amid growing negativity surrounding industry players, the agency notes. Companies further down the supply chain, by contrast, are suffering from concerns about return on investment and long-term financing. Shares and bonds of cloud providers CoreWeave and Nebius plummeted yesterday amid a widespread market crash.

TSMC's stock fell 2% on Thursday as the sell-off spread to Asia. The company released its quarterly report after the market closed.

This news story is being updated.

This article was AI-translated and verified by a human editor