Taiwan Semiconductor Manufacturing Co. (TSM) boosted its full-year revenue growth projection to around 30%, with strong AI demand fueling results at the world’s largest contract chipmaker.

TSMC's forecast sent shares in the Taiwan-based company, which works with tech heavyweights Apple (AAPL) and Nvidia (NVDA), almost 4% higher Thursday trading. The shares had risen roughly 18% this year through yesterday's close.

The company expects its 2025 revenue to rise around 30% in U.S dollar terms, TSMC CEO C.C. Wei said in the company's second-quarter earnings call, according to a transcript provided by AlphaSense. In April, Wei had said he expected the chipmaker’s full-year revenue to rise by "close to mid-20s percent."

The chipmaker said it expects revenue of between $31.8 billion and $33 billion during the third quarter. At the midpoint of the range, that was higher than Visible Alpha's consensus estimate of 932.04 billion New Taiwan dollars, or about $31.67 billion.

Meanwhile, the company registered second-quarter earnings per share of 15.36 New Taiwan dollars on revenue that rose 39% year-over-year to NT$933.79 billion. Analysts polled by Visible Alpha expected NT$14.6 and NT$929.79 billion, respectively. 

This article has been updated since it was first published to reflect fresh stock-market data.