TSMC displays on mobile phone screens and microchips as shown in this illustration photo taken in Krakow, Poland, July 19, 2023
Jakub Bolzycki | Noor Photos | Getty Images
Taiwan Semiconductor Manufacturing Company (TMSC)the company’s monthly revenue increased significantly in March as it benefited from the continued artificial intelligence boom driven by high-end chips.
TSMC said revenue in March was NT$195.2 billion (approximately US$6.1 billion), an annual increase of 34.3%, which is the fastest growth rate since November 2022.
The company’s first-quarter revenue totaled NT$592.6 billion, a 16.5% increase from the same period last year.
TSMC is the world’s largest semiconductor contract manufacturer, producing chips for the following companies apple arrive Nvidia.
The company is currently in the midst of an artificial intelligence boom. Semiconductors, such as those designed by Nvidia, have long underpinned the development of artificial intelligence applications.
Market competition continues to intensify. AMD Last year it launched competing chips with Nvidia, while Intel on Tuesday unveiled its latest artificial intelligence product.
Many startups are also developing artificial intelligence chips, and TSMC produces these chips for some companies.
TSMC shares have risen nearly 40% so far this year as investors bet on continued demand for artificial intelligence chips.
In January, the company said its artificial intelligence revenue was growing 50% annually. Analysts expect TSMC’s total revenue to grow 23.7% this year after declining in 2023, according to LSEG’s consensus forecast.
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