TSMC Q2 Net Profit Hits Record High, Up 77.4% YoY; Raises 2026 Capex to $60-64B

According to TSMC's earnings announcement on July 16, the world's largest semiconductor foundry reported Q2 net profit of TWD 706.56 billion (approximately $22.9 billion), up 77.4% year-over-year and surpassing market expectations of TWD 632.6 billion. The result marks an all-time record high, driven by surging demand for artificial intelligence chips.

TSMC raised its 2026 capital expenditure guidance from $52-56 billion to $60-64 billion and increased its full-year revenue growth forecast to approximately 40% in U.S. dollar terms, up from 30% previously. The company also announced an additional $100 billion investment in Arizona to expand U.S. semiconductor manufacturing capacity, including multiple advanced 2-nanometer logic wafer and packaging facilities.