Taiwan Semiconductor Manufacturing Company (TSMC) reported a significant revenue increase for August 2024, reaching NT$250.87 billion (US$7.72 billion), marking a 33% year-over-year rise. This figure represents TSMC's second-highest monthly revenue ever, although it is down 2.4% from July's record high of NT$256.95 billion. The surge in revenue is attributed to strong demand for AI chips and a recovering smartphone market, which have positively influenced investor sentiment. Year-to-date (January to August) revenue for TSMC has grown by 30.8% year-over-year to NT$1.77 trillion. TSMC has also guided its Q3 revenue to be between $22.4 billion and $23.2 billion (NT$728 billion).