Taiwan Semiconductor Manufacturing (TSMC), the leading chipmaker globally, has posted 16.5 percent growth in first-quarter revenue, buoyed by soaring demand for artificial intelligence (AI) applications.
TSMC, the world’s largest contract chipmaker catering to clients such as technology giants Apple and Nvidia, has capitalized on the escalating adoption of AI technologies. This surge has not only allowed the company to navigate the tapering off of pandemic-induced demand but has also propelled its stock to reach record highs.
TSMC reported first-quarter revenue of T$592.64 billion ($18.54 billion), up from $16.72 billion in the corresponding period last year.
Traditionally, the first half of the year tends to be relatively subdued for Taiwanese tech firms following the end-of-year holiday surge in demand for gadgets like tablets and smartphones in major Western markets. However, the burgeoning AI trend has defied this norm, fueling demand even during the off-season, Reuters news report said.
For March alone, TSMC recorded 34.3 percent year-on-year revenue increase, reaching T$195.21 billion and marking a 7.5 percent uptick from the previous month.
TSMC is slated to unveil its first-quarter earnings on April 18, where it is anticipated to provide updates on its outlook for the current quarter and the remainder of the year.
TelecomLead.com News Desk
