AI boom: TSMC supplies semiconductor chips to the likes of Apple and Nvidia

The world’s largest chip maker, Taiwan Semiconductor Manufacturing Co, posted a surge in revenues as it cashed in on the AI boom.

The group, which supplies semiconductor chips to the likes of Apple and Nvidia, raked in £16billion in the three months to the end of June -up 33- per cent on the year before.

The most valuable listed company in Asia, with a market cap of about £650billion, it briefly passed the $1trillion (£780billion) mark this week.

Listed in Taiwan and New York, it makes semiconductors that companies such as Nvidia rely on to make AI computing technology.

Nvidia itself has enjoyed a huge increase in value. In February, it was the fastest company ever to reach a value of $1trillion.

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