HSINCHU, Taiwan, May 23 Reuters Taiwanese contract chipmaker TSMC, a major supplier to Apple and Nvidia, on Thursday forecast an annual revenue growth of 10 in the global semiconductor industry, excluding memory chips.

This is a new golden age of opportunity with AI, said senior vicepresident Cliff Hou, who was speaking at an event in Hsinchu, where the company is headquartered.

In April, TSMC lowered its outlook for the global semiconductor industry excluding memory to a growth rate of around 10 from a previous forecast of more than 10.

World Semiconductor Trade Statistics has forecast growth of 13.1 for the global semiconductor market in 2024.

TSMC has estimated secondquarter sales may rise as much as 30 as it rides a wave of demand for semiconductors used in artificial intelligence applications AI.

Nvidia forecast on Wednesday its quarterly revenue above estimates and announced a stock split, lifting shares to a recordhigh territory and impressing investors who have tripled the chipmaker39;s market value in the past year on AI optimism.

Reporting By Faith Hung; Editing by Anne Marie Roantree, Kim Coghill and Sherry JacobPhillips

Source Reuters