TSMC beats Q1 revenue forecasts on surge in AI demand

TSMC, the world’s leading contract chipmaker, announced its first-quarter revenue of T$839.25 billion ($25.55 billion) on Thursday, exceeding market expectations.

The company’s strong performance is attributed to the growing demand for artificial intelligence technology, News.Az reports, citing Reuters.

An LSEG SmartEstimate, drawn from 19 analysts, had predicted first-quarter revenue of T$835.66 billion.

Taiwan Semiconductor Manufacturing Co (TSMC) is a major supplier to companies including Apple and Nvidia.

($1 = 32.8420 Taiwan dollars)

News.Az