Taiwan Semiconductor Manufacturing Co. (TSMC) reported first-quarter revenue of NT$1.13 trillion (US$35.62 billion). Revenue increased 35% year-over-year, surpassing analyst estimates. Robust global demand for advanced artificial intelligence chips fueled the growth. The results eased investor concerns that the AI hardware spending boom might be slowing.
The announcement signals strength for the technology supply chain and TSMC’s leading-edge 3-nanometer and 5-nanometer nodes. Chip stocks rose following the report, with Broadcom shares gaining as investors anticipated strong general demand for processors. TSMC will report full first-quarter earnings and an updated outlook on April 16.