Taiwan's leading semiconductor foundry, TSMC, has announced its consolidated revenue for July, reaching NT$256.953 billion, marking a 23.6% increase from the previous month and a substantial 44.7% leap year-over-year. This figure not only represents a new peak in TSMC's monthly revenue but also contributes to an impressive 30.5% growth in the cumulative revenue for the first seven months of the year, totaling approximately NT$1.523 trillion.

Looking ahead to the third quarter, TSMC projects its revenue to range between US$22.4 billion and US$23.2 billion, reflecting a 7.59% to 11.43% growth from the second quarter and a remarkable 29.64% to 34.27% increase from the same period last year. With the midpoint of the estimate being US$22.8 billion, the quarter's revenue is expected to see a 9.5% increase sequentially and a 31.96% surge annually, which could lead to TSMC rewriting its record for the highest single-quarter revenue.

The company attributes its robust performance to the strong demand for high-end manufacturing processes in the smartphone and artificial intelligence industries. TSMC also anticipates a global semiconductor market growth (excluding memory chips) of around 10% for the year 2024.

Furthermore, TSMC's President, C.C. Wei, has previously stated that the capacity for the chip packaging technology CoWoS is expected to double this year, with another potential doubling by 2025. TSMC will continue to collaborate with outsourced semiconductor assembly and test (OSAT) partners to advance the development of cutting-edge packaging technologies.