"TSMC's Strong Performance Continues with Record High Sales and AI Boost"

Taiwan Semiconductor Manufacturing Co.'s revenue increased by 9.4% in the first two months of 2024, driven by the global surge in AI development, which is helping offset potential declines in iPhone sales. TSMC, a major chipmaker for companies like Apple and Nvidia, is benefiting from the rise in demand for high-end chips required for large language models used in AI. The company anticipates a recovery in smartphone and computing demand and is expected to gain business from Intel Corp. in the coming years.