"A show of force for the semiconductor industry! 🚀 Taiwan Semiconductor Manufacturing Company (TSMC) released a strong second quarter earnings report that exceeded market expectations. This positively impacted its main customer Nvidia. 📈 This symbiotic relationship between TSMC and Nvidia is It highlights the growing importance of advanced chip manufacturing in the (AI) boom.

TSMC's Q2 performance exceeded expectations. TSMC, the world's largest contract chipmaker, reported second-quarter revenue of NT$673.51 billion ($20.67 billion), representing year-on-year growth of 32%. The figure beat market estimates and remained within the company's previous guidance range of $19.6-20.4 billion.

Nvidia is TSMC's main customer and a leader in AI chip design. Nvidia's stock rose in premarket trading following TSMC's announcement. Shares of Nvidia rose 1.00% to $132.70, adding to its already impressive year-to-date return.

The strategic alliance between TSMC and Nvidia has been mutually beneficial. Both companies are gaining as demand for AI applications grows.

What are your thoughts? We are waiting your comments! 👇"