Taiwan Semiconductor Manufacturing Co (TSMC) reported better-than-expected sales, driven by a surge in artificial intelligence (AI) applications that require increased chipmaking capacity.
The company's second-quarter revenue reached NT$480.8 billion (US$15.3 billion).
That figure is a 10% drop compared to the previous year, but the decline was not as severe as analysts had anticipated.
Analysts had estimated sales of NT$476.2 billion, according to Bloomberg.
In June alone, amid a strong run for AI companies, TSMC achieved sales of NT$156.4 billion.
The Taiwanese firm is the primary contract manufacturer for Nvidia's AI accelerator chips, which are widely recognized as top-tier hardware for training large data models.
TSMC shares have already surged over 25% since the start of the year.
US-listed shares of TSMC were unchanged ahead of Monday's market open at $100.23.
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