Taiwan Semiconductor Manufacturing Company Ltd (TSM  ) expects a significant revenue rebound in the year's second half.

The launch of new Apple Inc (AAPL  ) iPhones and strong demand for AI chips from Nvidia Corp (NVDA  ), Broadcom Inc (AVGO  ), and Advanced Micro Devices, Inc (AMD  ), with robust wafer-start momentum is likely to trigger the rebound, Digitimes reports.

Companies like TSMC had a challenging start during 2023 due to supply chain disruptions, weak demand further intensified by U.S. sanctions on Chinese industries, and the Russian-Ukraine conflict.

However, launching OpenAI and companies like Alphabet Inc (GOOG  ) (GOOGL  )

Google, and Amazon.Com, Inc (AMZN  ) entering the AI race helped the sector redeem its losses.

Reportedly, Nvidia had placed additional orders at TSMC for chips. The chipmaker expects Q2 revenue of $11 billion thanks to the AI boom.

Nvidia stock has surged close to 200% YTD.

The AI hype also drove orders for Broadcom's AI-related customized chips (ASIC). Google and Meta Platforms Inc (META  ) have placed orders with Broadcom.

Nvidia is working on advanced versions of its current H100 GPUs after hitting the trillion-dollar club with its lineup of the A100 & H100 GPUs.

Price Action: TSM shares closed lower by 0.69% at $102.44 premarket on the last check Wednesday.