TSMC revenue climbs 39% in latest sign of AI spending boom

Taiwan Semiconductor Manufacturing Co.’s revenue rose a better-than-anticipated 39% in the June quarter, buoying expectations for a sustained post-ChatGPT boom in AI spending.

Sales for the chipmaker to Nvidia Corp. and Apple Inc. climbed to NT$934 billion ($32 billion) for the three months, based on its reported monthly revenue. That beat the average analyst projection for about NT$928 billion.

Investors have piled back into AI-linked companies, shaking off a funk that settled...