TSMC Supplier’s CEO Dismisses AI Concerns After Nvidia Wipeout

Demand for AI chips should spur growth for the semiconductor industry over the next few years, the CEO of a major supplier to Taiwan Semiconductor Manufacturing Co. said, dismissing concerns that investors had misjudged the pace and extent of spending on artificial intelligence.

While the global chip market has grown about 8% annually over the past 20 years, AI semiconductors should grow at a much higher rate going forward, Scientech Corp. Chief Executive Officer Hsu Ming-Chi told Bloomberg Television.

“This booming of the AI industry has just begun,” Hsu said. “For the most prominent company, the ...