08:09 AM EDT, 05/23/2024 (MT Newswires) -- Taiwan Semiconductor Manufacturing ( TSM ) forecast 10% annual revenue growth in the global semiconductor industry, excluding memory chips, Reuters reported on Thursday.

"This is a new golden age of opportunity with AI," said senior vice president Cliff Hou at an event in Hsinchu, Taiwan, according to Reuters.

In April, TSMC lowered its forecast for non-memory semiconductor growth to around 10% from a previous forecast of more than 10%, according to the report.

World Semiconductor Trade Statistics has forecast 13.1% growth for the global semiconductor market in 2024, Reuters reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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