TSMC posted record $40 billion revenue. Its stock fell 4%. Investors are no longer buying the AI spending story on faith.

TSMC posted record second-quarter revenue of over $40 billion, up 36% year on year, with net income rising 77%. The result should have been a triumph. Instead, shares fell 4%, dragging the Nasdaq 100 down 1.4% on Thursday and compounding losses from the day before. The problem was not the earnings but the spending. TSMC […] This story continues at The Next Web

This story was reported by The Next Web. EUROPES curates Europe's most relevant coverage — read the full report at the original source.

Read full coverage at The Next Web →

TSMC posted record $40 billion revenue. Its stock fell 4%. Investors are no longer buying the AI spending story on faith.

More from Tech & Startups

Face AI upgrades its video face swap tool with faster processing and better tracking

Jensen Huang’s leather jacket sold for $960,000 at Sotheby’s, 96 times its retail price

Google AI rebuilds Pelé’s lost 1959 goal for Santos museum

Xpeng debuted its flying car in Germany. It has 7,000 orders and a factory that can build 10,000 a year.

Apple raised iPhone 17 prices by 10% in Japan as the yen hovers near a four-decade low

Sateliot seeks €150m to beam 5G to smartphones from orbit