TSMC Raises 2025 Outlook in a Big Boost for AI Demand Hopes (3)

Taiwan Semiconductor Manufacturing Co. raised its outlook for 2025 revenue growth, shoring up investors’ confidence in the momentum of the global AI spending spree.

The world’s biggest contract chipmaker on Thursday forecast sales growth of about 30% in US dollar terms this year, up from mid-20% previously. That reinforced expectations that tech firms from Meta Platforms Inc. to Google will keep spending to build the data centers essential to artificial intelligence development. TSMC’s American depositary receipts gained as much as 4.3% after markets opened in New York, while top supplier ASML Holding NV rose as much as 3.5%.

TSMC’s move ...