The Globe and Mail reports in its Friday, July 19, edition that Taiwan's TSMC, the world's largest contract chip maker, raised its full-year revenue forecast on Thursday given surging demand for chips used in artificial intelligence, and rejected the idea of a joint-venture factory in the United States. A Reuters dispatch to The Globe reports that Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC), a major Apple and Nvidia supplier, has benefited from the global AI boom that has helped it weather the tapering off of pandemic-led electronics demand. The bellwether for the chip industry earlier on Thursday posted net profit that beat market expectations. It raised its 2024 revenue forecast to growth of slight to above the mid-20-per-cent range in U.S. dollar terms, versus a previous prediction of an increase in the low to mid-20-per-cent range. "AI is so hot; right now everybody, all my customers, want to put AI functionality into their devices," chairman and chief executive officer C.C. Wei told analysts and reporters at an earnings conference. The company's U.S.-listed shares rose 3.3 per cent in premarket trading following the results.