With the exception of memory chips, Taiwanese contract chipmaker TSMC, a major supplier to both Apple and Nvidia, forecasts a 10% annual sales rise in the global semiconductor sector.
TSMC (2330.TW), a Taiwanese contract chipmaker and a significant supplier to both Apple (AAPL.O) and Nvidia (NVDA.O), opened a new tab and predicted 10% annual revenue growth in the global semiconductor sector, excluding memory chips.
Speaking at an event in Hsinchu, the company’s headquarters, senior vice president Cliff Hou declared, “This is a new golden age of opportunity with AI.”
From a previous prediction of more than 10%, TSMC reduced its prognosis in April for the global semiconductor sector, excluding memory, to a growth rate of about 10%.
The global semiconductor market is expected to increase by 13.1% by 2024, according to World Semiconductor Trade Statistics.
Amidst a surge in demand for semiconductors utilized in artificial intelligence (AI) applications, TSMC has projected that its sales for the second quarter might increase by as much as 30%.
On Wednesday, Nvidia surprised investors by predicting quarterly revenue that was higher than expected and by announcing a stock split. This caused shares to soar to all-time highs and impressed those who had tripled the chip maker’s market worth in the previous year due to excitement surrounding AI.
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