India, July 16 -- Taiwan Semiconductor Manufacturing Company (TSMC), the world's biggest contract chipmaker, reported a 77.4% jump in second-quarter profit, the company announced on Thursday. The strong results were better than what analysts had expected, showing that demand for AI chips remains very strong.

TSMC reported revenue of NT$1.27 trillion ($39.45 billion) during the second quarter. This was the fifth straight quarter in which TSMC posted a record-high profit. Profit also increased 23.4% compared with the previous quarter. Looking ahead, TSMC expects third-quarter revenue to be between $44.6 billion and $45.8 billion, the company said. The company also expects its operating profit margin to stay between 56% and 58% during the t...