Taiwan Semiconductor Manufacturing Co. (TSMC) reported a record first-quarter net profit of NT$572.48 billion. This 58% increase significantly exceeded analyst expectations.
Global demand for advanced artificial intelligence chips drove the quarterly results. Advanced technologies accounted for 74% of total wafer revenue.
TSMC raised its 2026 revenue growth forecast to over 30%. The company expects capital expenditures to reach the high end of its $52 billion to $56 billion range.
The report lifted technology stocks and semiconductor ETFs globally. These results overshadowed concerns regarding Middle East conflict-related supply chain costs.