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TSMC's Q1 Revenue Growth Beats Market Expectations as Artificial Intelligence Booms
TAIPEI (Reuters) - Taiwan chipmaker TSMC on Wednesday reported first-quarter revenue growth of 16.5%, beating market expectations and hitting the upper end of the company's own guidance, as demand for artificial intelligence applications led to a surge in sales. The world's largest maker of carrier chips, whose customers include Apple and Nvidia, benefited from the AI wave that helped it stave off a pandemic-induced contraction in demand, driving TSMC's shares to a record high. That's not far off Taiwan Semiconductor Manufacturing Company (TSMC)'s previous forecast of first-quarter revenue between $18 billion and $18.8 billion.
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