"TSMC's Q2 Sales Soar on Surging AI Chip Demand"
TL;DR
TSMC, the world's largest chipmaker, expects a 30% increase in Q2 sales due to high demand for semiconductors used in AI applications, with CEO C.C. Wei stating that "almost all the AI innovators are working with TSMC." The company's Q1 net profit rose 9% and beat forecasts, driven by strong demand for advanced chips. TSMC's stock price has surged on the back of chip demand for AI applications, and it expects revenue to rise in the low- to mid-20% range in USD terms by 2024. The company also plans to expand its global manufacturing footprint, including production in the U.S. state of Arizona.
- UPDATE 3-TSMC expects Q2 sales to jump on 'insatiable' AI demand Yahoo Finance
- TSMC beats first-quarter revenue and profit expectations on strong AI chip demand CNBC
- TSM Stock: Taiwan Semiconductor Returns To Growth With Q1 Beat Investor's Business Daily
- AI Chips Drive Growth at TSMC - WSJ The Wall Street Journal
- TSMC posts rise in profit, expects Q2 sales to jump on 'insatiable' AI demand Yahoo Finance
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