Taiwan Semiconductor Manufacturing Co. (TSMC) reported record second quarter 2026 revenue of $40.2 billion, up 36% year-over-year, with net profit of approximately $22 billion, surging 77.4%. Despite these exceptional results, TSMC shares fell 4% in pre-market trading, and the decline spread to other sector players: NVIDIA dropped 1.3%, AMD 2.7%, Intel 1.9% and Micron 2.4%. TSMC also raised its 2026 capital expenditure guidance to $60-64 billion, from $52-56 billion previously, raising investor doubts about the sustainability of massive investments in artificial intelligence. Bitcoin mining stocks such as IREN, Cipher Mining and TeraWulf also lost between 4% and 5%, with their repositioning as AI infrastructure players being questioned.
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