TSMC Reports Record Quarterly Revenue on AI Chip Demand Surge

Taiwan Semiconductor Manufacturing Co. (TSMC) has seen a significant 16.5% increase in Q1 revenue, driven by high demand for AI chips.

TSMC's Q1 revenue rose to $18.54 billion, surpassing market expectations and previous year's figures.
The company benefited from an $11.6 billion grant and loan package under the Biden administration's CHIPS Act.
AI and data center applications primarily fueled the revenue surge, with significant contributions from clients like Apple and Nvidia.
Despite recent challenges like a major earthquake in Taiwan, TSMC's operations remain largely unaffected.
TSMC is expanding its global footprint with new manufacturing facilities in the U.S. and plans for advanced chip production.