TSMC record revenue, stock falls 4%

TSMC posted record $40 billion Q2 revenue, up 36% year on year, with net income rising 77%. Shares fell 4% after the company raised its 2026 capital expenditure forecast to $60-64 billion, up from $52-56 billion. The Nasdaq 100 dropped 1.4% as investors demand proof of returns on AI spending.