TSMC saw a surge in revenue in March, benefiting from the AI boom. The company reported March revenue of 195.2 billion new Taiwan dollars ($6.1 billion), a 34.3% increase year-on-year, the fastest growth rate since November 2022. First-quarter revenue reached 592.6 billion new Taiwan dollars, up 16.5% year-on-year.
As the world’s largest contract semiconductor manufacturer, TSMC produces chips for companies like Apple and Nvidia. The company is capitalizing on the AI trend, with semiconductors playing a crucial role in AI application development.
Competition is intensifying in the market, with AMD launching a rival chip to Nvidia and Intel unveiling its latest AI offering. TSMC also manufactures AI chips for startups.
TSMC’s shares have risen by nearly 40% this year, reflecting investor confidence in the demand for AI chips. The company reported a 50% growth in AI revenue in January and is expected to see a 23.7% increase in total revenue this year, according to LSEG consensus estimates.
TSMC, the world’s largest contract semiconductor manufacturer, has seen a surge in revenue in March, reaching 195.2 billion new Taiwan dollars, up 34.3% year-on-year. This growth has been driven by the continued artificial intelligence boom, with semiconductors playing a crucial role in the development of AI applications. TSMC’s first-quarter revenue totaled 592.6 billion new Taiwan dollars, up 16.5% year-on-year. The company manufactures chips for companies like Apple and Nvidia, and is currently benefiting from the increasing demand for AI chips. Competition in the market is rising, with companies like AMD and Intel launching rival AI offerings. Analysts expect TSMC to see a 23.7% rise in total revenue this year, following a decline in 2023. TSMC’s shares are up nearly 40% this year, as investors continue to bet on the growth of AI technologies.
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