TSMC Q2 profit seen up 59% as AI chip demand stays strong

TSMC is expected to post record second-quarter earnings, with analysts forecasting net profit of NT$632.6 billion, up 59% from a year earlier, as demand for AI chips and advanced packaging remains strong. The chipmaker had already reported a 36% rise in April-June revenue to NT$1.27 trillion, with June sales jumping 68% from a year earlier. TSMC, a key supplier to Nvidia and Apple, has become a bellwether for global AI infrastructure spending. Analysts say demand for its 3-nanometer and 2-nanometer processes, along with CoWoS packaging, continues to outpace supply. The company is also investing US$165 billion in Arizona and had previously set 2026 capital spending at the high end of US$52 billion to US$56 billion.