TSMC Raises Outlook in Vote of Confidence for AI ‘Megatrend’

Taiwan Semiconductor Manufacturing Co. hiked its projection for 2025 revenue growth for the second time this year, reinforcing hopes in the longevity of a global boom in AI spending.

TSMC, the go-to chipmaker for Apple Inc. and Nvidia Corp.,now foresees mid-30% growth in annual sales, up about a few percentage points from previously. The outlook increase was striking given Taiwan’s biggest company last raised its guidance just three months ago, igniting a rally that’s tacked on more than $260 billion to its market value.

The results underscore how TSMC remains one of the bigger beneficiaries of a spending ...