TSMC's Earnings Get Boost from Booming AI Chip Demand

TSMC's earnings were a mixed bag, with smartphone sales down and the auto industry using fewer chips. However, the future is bright thanks to Artificial Intelligence (AI). AI chip sales are booming and expected to double in 2024, making up 11-13% of TSMC's revenue. This strong growth trend is predicted to continue in the long term, with AI potentially reaching 20% of their revenue by 2028.