US stock futures edge lower after S&P 500 hits record high; PCE data in focus
Investing.com -- Taiwan Semiconductor Manufacturing Co. reported a 26% growth in July sales, showing strong momentum in artificial intelligence chip spending.
The chipmaker, which produces hardware for Nvidia Corp . (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD) Inc., recorded sales of NT$323.2 billion ($10.8 billion) last month.
This growth aligns with analyst expectations of a 25% increase in the company’s third-quarter revenue.
TSMC has maintained robust growth this year despite facing challenges from a stronger Taiwanese dollar.
The company’s revenue is up 38% from January through July compared to the same period in 2024, as it works to meet high demand.
The company’s shares on the Taipei exchange reached a record high on Thursday following the Trump administration’s announcement of new chip tariffs.
TSMC will be exempt from these tariffs due to its investments in US production facilities.
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