TSMC posts 60.7% y-o-y jump in Q2 profit, CEO calls H20 chip resumption a positive sign

TSMC reported strong second-quarter results on Thursday, with revenue reaching NT$933.79 billion ($29.1 billion), up 38.6% year-on-year. Net profit surged 60.7% year-on-year to NT$398.27 billion ($12.4 billion), driven by robust demand for AI and high-performance computing (HPC), which now accounts for 60% of its business, according to the company. During the earnings call, TSMC CEO C.C. Wei said the resumption of NVIDIA’s H20 chip shipments to China is an encouraging sign, given the market’s size. He added that the specific impact of the resumption on TSMC remains unclear and will depend on future order volumes. [Icsmart, in Chinese]