TAIPEI (Taiwan News) — Taiwan Semiconductor Manufacturing Company (TSMC) reported a revenue of NT$673.5 billion (US$20.7 billion) in Q2, marking a historic high.

According to a company press release on Wednesday (July 10), TSMC’s June revenue was about NT$207.87 billion, a 9.5% percent decrease from May. However, revenue for the first half of the year was NT$1.26 trillion, up 28% year-over-year, per CNA.

TSMC said robust demand in the high-performance computing market and strong customer demand for advanced 3nm (nanometer) and 5nm process technologies will drive Q2 revenue to approximately US$19.6 billion to US$20.4 billion. At the midpoint, this represents a quarterly growth of 6%, with an average exchange rate of US$1 to NT$32.3.

TSMC reported it will hold its quarterly investor conference on July 18. Previously, the company projected the contribution from AI servers would double this year, with substantial shipments of 3nm process products.

Operations are expected to climb quarterly, with full-year revenue growth anticipated to be between 21% and 26%, the company said. It added that investors are interested in TSMC wafer foundry pricing, gross margin performance, and expansion of CoWoS advanced packaging.