Taiwan Semiconductor Manufacturing Co. (TSMC) last month recorded an acceleration of the dynamic of the revenue growth rate by 44% year-on-year and 23,6% relative to the speed of movement of this figure on an upward trajectory in June.

The mentioned intensity of the specified company’s activities in the financial aspect signals positive prospects for demand for artificial intelligence chips from large companies such as Nvidia Corp., which is one of the main beneficiaries of the so-called AI boom.

In monetary terms, TSMC’s sales volumes for the past month were fixed at around NT$256.95 billion (US$7.9 billion). Analysts who were interviewed by the media predict that the company’s revenue for the third quarter of the current year will amount to NT$747.4 billion.

It is worth noting that TSMC is one of the main bellwethers for demand for artificial intelligence. The company supplies chips to leading manufacturers of so-called machine intelligence accelerators, including the above-mentioned Nvidia and also Advanced Micro Devices Inc. Moreover, the firm is the sole supplier of iPhone processors from Apple Inc. Currently, the global mobile device market is showing signs of a steady recovery after the downturn, which began amid the end of the coronavirus pandemic.

TSMC in July revised the forecast of its expected results of operations for 2024 towards improvement. The company assumes that its revenue for the current year will be fixed at $23.2 billion. It is worth noting that TSMC’s prospects are in an environment consisting of favorable conditions, since the artificial intelligence industry, for which chips are a kind of basic component, is on an active development trajectory and has significant potential.

As we have reported earlier, TSMC Reaches One Trillion Dollar Market Capitalization.