Does this signal an AI chip glut?
Not conclusively. TSMC's own numbers show AI-linked high-performance computing demand still growing, at 66% of Q2 revenue, and it raised rather than cut its spending outlook. The same week's broader chip-stock selloff traces to a separate story — memory-chip competition fears from China hitting Micron, Intel, AMD, and Marvell — rather than evidence of falling AI chip demand.
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TSMC Posted a Record Profit — Chip Stocks Had a Brutal Week AnywayTSMC's Q2 profit jumped 77.4% to a record NT$706.6B and it raised 2026 capex to $60-64B, the same week Micron's CXMT scare sent chip stocks lower.
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