From CNBC: 2024-04-10 02:51:25

Taiwan Semiconductor Manufacturing Co. (TMSC) reported a 34.3% year-on-year revenue surge in March, hitting 195.2 billion new Taiwan dollars ($6.1 billion). Its first-quarter revenue totaled 592.6 billion new Taiwan dollars, a 16.5% increase year-on-year. TSMC is the world’s largest contract semiconductor manufacturer, producing chips for companies like Apple and Nvidia.

The AI boom is fueling TSMC’s growth, with semiconductors like those from Nvidia driving AI application development. Competitors like AMD and Intel are also entering the market with their own AI chip offerings. Forward-thinking startups are partnering with TSMC to manufacture AI chips as well.

TSMC’s stock has surged nearly 40% this year as investors anticipate sustained demand for AI chips. The company’s AI revenue is growing at an impressive 50% annually. Analysts predict a 23.7% increase in TSMC’s total revenue this year, rebounding from a decline in 2023.



Read more at CNBC:: TSMC posts fastest monthly revenue growth since 2022 on AI chip boom