TSMC’s revenue in July 2024 increased by 44.7% compared to July 2023 and reached NT$256.95 billion ($7.9 billion). This is evidenced by the data of the Taiwanese company.

Compared to the previous month, the figure also increased, although not as significantly – the growth was 23.6%. In total, in the period from January to July this year, TSMC received more than NT$1.523 trillion in revenue. The figure increased by 30.5% over the year.

According to Bloomberg, the growth is driven by the steady demand for artificial intelligence. According to analysts, in the third quarter of this year, TSMC’s revenue should grow by 37% to NT$747.4 billion. But July’s results suggest that the figure could be even higher.

As a reminder, in June of this year, the Taiwanese company’s revenue increased to NT$207.87 billion. This is a 33% increase compared to the same period last year.

However, Taiwan Semiconductor Manufacturing Co.’s May sales grew by 30% to NT$229.6 billion.