TSMC is displayed on a phone screen and a microchip and is seen on this illustration photo taken in Krakow, Poland, July 19, 2023
Jakub Porzycki | Photo only | Getty Images
Taiwan Semiconductor Manufacturing Co. (TMSC)reported an increase in monthly revenue in March because it benefited from an ongoing artificial intelligence boom driven by high-end chips.
According to TSMC, March revenue was 195.2 billion latest Taiwan dollars ($6.1 billion), up 34.3% year-on-year – marking the fastest pace of growth since November 2022.
The company’s first-quarter revenue was 592.6 billion New Taiwan dollars, up 16.5% year-on-year.
TSMC is the world’s largest contract semiconductor manufacturer, producing chips for businesses Apple To Nvidia.
The company is currently experiencing the AI ​​boom. Semiconductors, similar to those developed by Nvidia, have supported the event of AI applications.
Competition out there has increased. AMD launched a competitor chip to Nvidia last 12 months Intel announced its latest AI offering on Tuesday.
Various startups are also developing AI chips, which TSMC produces for some corporations.
TSMC shares are up nearly 40% to this point this 12 months as investors bet on continued demand for AI chips.
In January, the corporate announced that its AI revenue was growing 50% annually. Analysts expect TSMC to post a 23.7% increase in total revenue this 12 months after a decline in 2023, in response to LSEG consensus estimates.
