Taipei, June 4 (CNA) Artificial intelligence development is expected to drive the growth of contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) over the next few years, according to Mark Liu (劉德音), who stepped down as the chipmaker's chairman on Tuesday.
focustaiwan.tw/, Jun. 04, 2024 –
Presiding over the last annual general meeting after becoming TSMC chairman in 2018 in the wake of founder Morris Chang's (張忠謀) retirement, Liu said AI development is expected to push up demand for semiconductors and the company is good at rolling out chips used in AI applications.
Liu said he has faith in TSMC's growth over the next few years at a time when there will be a boom in AI, with industries around the world rushing to install applications, including AI servers, for production.
On the back of the company's lead over its peers in production technologies, TSMC is believed to provide advanced chips to U.S.-based AI chip designer Nvidia Corp. Liu's remarks echoed those of Nvidia CEO Jensen Huang (黃仁勳), who on Sunday in a speech in Taipei described AI as the driving force of a new worldwide industrial revolution.
TSMC is also expected to see significant growth in 2024, taking advantage of a relatively low comparison base over the previous year, Liu said.
At an investor conference in mid-April, TSMC maintained its forecast that sales for 2024 will grow 21-26 percent from 2023 in U.S. dollar terms, while downgrading its forecast of sales growth in the global pure play wafer foundry business to 14-19 percent from a previous estimate of 20 percent.
Despite TSMC's lead over its peers in technology development, the company will not become complacent, choosing instead to continue investing more in research and development as AI applications demand high performance computing capabilities and demand will not be satisfied, Liu said.