TSMC displayed on a phone screen and microchip and are seen on this illustration photo taken in Krakow, Poland on July 19, 2023
Jakub Porzycki | Nurphoto | Getty Images
Taiwan Semiconductor Manufacturing Co. (TMSC), posted a surge in monthly revenue in March, because it cashed in on a unbroken artificial intelligence boom powered by high-end chips.
TSMC said March revenue got here in at 195.2 billion recent Taiwan dollars ($6.1 billion), up 34.3% year-on-year — marking the fastest pace of growth since November 2022.
The corporate’s first-quarter revenue totaled 592.6 billon recent Taiwan dollars, up 16.5% year-on-year.
TSMC is the world’s largest contract semiconductor manufacturer, which makes chips for firms from Apple to Nvidia.
The corporate is currently riding the AI boom. Semiconductors, equivalent to those designed by Nvidia, have been underpinning the event of AI applications.
Competition has been rising available in the market. AMD launched a rival chip to Nvidia last 12 months, while Intel on Tuesday took the wraps off its latest AI offering.
Quite a lot of startups are also developing AI chips, which TSMC manufactures for some firms.
TSMC shares are up slightly below 40% this 12 months to this point, as investors bet on the continued demand for AI chips.
In January, the corporate said that its AI revenue is growing 50% on an annual basis. Analysts expect TSMC to post a 23.7% rise in total revenue this 12 months, based on LSEG consensus estimates, after a decline in 2023.
