--- title: TSMC posted record $40 billion revenue. Its stock fell... description: TSMC reported record Q2 revenue of $40 billion, up 36% year-on-year with net income rising 77%, yet its stock fell 4% after the company raised its 2026 capital... canonical: https://daily.dev/posts/tsmc-posted-record-40-billion-revenue-its-stock-fell-4-investors-are-no-longer-buying-the-ai-spe-2ql4obj5x twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: TSMC posted record $40 billion revenue. Its stock fell 4%. Investors are no longer buying the AI spending story on faith. | daily.dev og:description: TSMC reported record Q2 revenue of $40 billion, up 36% year-on-year with net income rising 77%, yet its stock fell 4% after the company raised its 2026 capital... og:url: https://daily.dev/posts/tsmc-posted-record-40-billion-revenue-its-stock-fell-4-investors-are-no-longer-buying-the-ai-spe-2ql4obj5x og:image: https://api.daily.dev/og/posts/2ql4Obj5X.png og:image:alt: TSMC posted record $40 billion revenue. Its stock fell 4%. Investors are no longer buying the AI spending story on faith. og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # TSMC posted record $40 billion revenue. Its stock fell 4%. Investors are no longer buying the AI spending story on faith. **[The Next Web](https://daily.dev/sources/tnw)** · 2 min read · 0 upvotes · 0 comments ## Summary TSMC reported record Q2 revenue of $40 billion, up 36% year-on-year with net income rising 77%, yet its stock fell 4% after the company raised its 2026 capital expenditure forecast to $60-64 billion from $52-56 billion. The selloff dragged the Nasdaq 100 down 1.4%. The semiconductor index is now down nearly 19% from all-time highs. Investor sentiment has shifted: record earnings are no longer sufficient when AI infrastructure spending continues to balloon without proportionate returns. With nearly $1.6 trillion spent on AI development over the past decade, institutions like BIS, Man Group, and Goldman Sachs have been warning of overextension. TSMC manufactures chips for Nvidia, Apple, and most AI-driven companies, making its market reaction a key signal that investors now want demonstrated ROI, not promises. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: --- Tags: [#ai](https://daily.dev/tags/ai), [#ai-infrastructure](https://daily.dev/tags/ai-infrastructure) [View this post on daily.dev](https://daily.dev/posts/tsmc-posted-record-40-billion-revenue-its-stock-fell-4-investors-are-no-longer-buying-the-ai-spe-2ql4obj5x) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"TSMC posted record $40 billion revenue. Its stock fell 4%. Investors are no longer buying the AI spending story on faith.","url":"https://daily.dev/posts/tsmc-posted-record-40-billion-revenue-its-stock-fell-4-investors-are-no-longer-buying-the-ai-spe-2ql4obj5x","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/tsmc-posted-record-40-billion-revenue-its-stock-fell-4-investors-are-no-longer-buying-the-ai-spe-2ql4obj5x"},"datePublished":"2026-07-18T08:26:43.273Z","dateModified":"2026-07-23T14:15:41.046Z","description":"TSMC reported record Q2 revenue of $40 billion, up 36% year-on-year with net income rising 77%, yet its stock fell 4% after the company raised its 2026 capital...","image":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/297ebce86905877818c0d1f53580b236?_a=AQAEuop","thumbnailUrl":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/297ebce86905877818c0d1f53580b236?_a=AQAEuop","isAccessibleForFree":true,"articleSection":"The Next Web","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"The Next Web","logo":"https://media.daily.dev/image/upload/t_logo,f_auto/v1/logos/tnw","url":"https://daily.dev/sources/tnw"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/tsmc-posted-record-40-billion-revenue-its-stock-fell-4-investors-are-no-longer-buying-the-ai-spe-2ql4obj5x","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":0},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"ai,ai-infrastructure","timeRequired":"PT2M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"The Next Web","item":"https://daily.dev/sources/tnw"},{"@type":"ListItem","position":3,"name":"TSMC posted record $40 billion revenue. Its stock fell 4%. Investors are no longer buying the AI spending story on faith."}]} ```