What Can Drive TSMC's Revenue Rebound? Strong Demand for AI Chips from Nvidia, Broadcom, AMD

Benzinga2023-07-05

Taiwan Semiconductor Manufacturing Company Ltd (TSM) expects a significant revenue rebound in the year's second half.

The launch of new Apple Inc iPhones and strong demand for AI chips from Nvidia Corp, Broadcom Inc, and Advanced Micro Devices, Inc (AMD), with robust wafer-start momentum is likely to trigger the rebound, Digitimes reports.

Companies like TSMC had a challenging start during 2023 due to supply chain disruptions, weak demand further intensified by U.S. sanctions on Chinese industries, and the Russian-Ukraine conflict.

However, launching OpenAI and companies like Alphabet Inc, and Amazon.Com, Inc entering the AI race helped the sector redeem its losses.

Reportedly, Nvidia had placed additional orders at TSMC for chips. The chipmaker expects Q2 revenue of $11 billion thanks to the AI boom.

Nvidia stock has surged close to 200% YTD.

The AI hype also drove orders for Broadcom's AI-related customized chips (ASIC). Google and Meta Platforms Inc have placed orders with Broadcom.

Nvidia is working on advanced versions of its current H100 GPUs after hitting the trillion-dollar club with its lineup of the A100 & H100 GPUs.

Price Action: TSM shares closed lower by 1.02% at $102.10 premarket on the last check Wednesday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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