TSMC, the world’s largest contract chipmaker, reported a record first-quarter net profit, jumping 58% and exceeding market forecasts. The surge marks the company’s eighth consecutive quarter of double-digit growth, reaching US$18.2 billion.
The strong results were driven by robust demand for artificial intelligence chips and orders from major customers like Apple and Nvidia. Despite the early stages of the Middle East war and rising costs, global AI demand remained firm.
TSMC has raised its annual revenue forecast and is increasing capital spending to meet the relentless demand for its advanced AI chips. The company anticipates continued growth in AI demand in the coming quarters.
The Taiwan-based chipmaker’s latest report demonstrates sustained momentum, with record revenue alongside the record profit.