Nvidia (NVDA) and Apple (AAPL) supplier TSMC (TSM) said Thursday it sees big sales gains for the industry because of soaring demand for artificial intelligence (AI) products.
The chipmaker’s American depositary receipts (ADRs) climbed 0.6% to a record high of $157.09 Thursday following the news. They’ve gained about 51% since the start of the year.
TSMC Senior Vice President Cliff Hou reportedly said at an event at the company’s headquarters in Hsinchu, Taiwan Thursday that TSMC anticipates 10% annual revenue growth for the global semiconductor industry, excluding memory chips. He added that the firm is seeing strong AI server demand, up about 2.5 times from last year.
Hou called this “a new golden age of opportunity with AI.”
Hou noted that the industry could also get a boost from a mild recovery in demand for smartphones and PCs, which had slumped because of too much inventory.
Hou said revenue for the foundry sector, which TSMC dominates, could expand at an annual rate of 15% to 20%.
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AcademicFX, Nvidia Supplier TSMC, Potential Grow
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