Does a turbo increase speed?

Could you please elaborate on the effect of a turbocharger on vehicle speed? Specifically, does it directly increase the maximum speed that a vehicle can attain, or does it primarily enhance acceleration and torque? I'm curious to understand if the turbocharger is a solution for those seeking to break speed records, or if it's more suited for those who want to enjoy a more responsive and powerful driving experience. Thank you for clarifying this for me.