This week's AI winners and losers
Yahoo Finance's weekly AI roundup highlights TSMC and China's Moonshot AI as winners, and IBM and the broader chip industry as losers. TSMC reported blowout Q2 earnings with revenue up 36% year-over-year and net income surging 77.4%, driven by surging AI chip demand from Apple, AMD, Nvidia, and Qualcomm. The company raised its capex and revenue forecast and plans to expand its US footprint. Moonshot AI unveiled its Kimi K3 model, which, while trailing frontier models like Anthropic's Fable 5 and OpenAI's GPT-5.6 Sol, surpasses them on certain benchmarks, highlighting China's rapid AI catch-up and its open-weight, low-cost strategy. On the losing side, IBM preannounced disappointing Q2 results as customers shifted spending from mainframes to AI servers and memory chips. The article also notes broader chip industry challenges from this spending shift.
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