Taiwan Semiconductor Manufacturing Co. (TSM) has reported record revenue as global demand for artificial intelligence (A.I.) microchips remains strong.
For the year’s first quarter, the world’s largest chipmaker posted revenue of 1.13 trillion new Taiwan dollars ($35.6 billion U.S.). That beat analyst forecasts of 1.12 trillion new Taiwan dollars. Sales were up 35% year-over-year.
TSMC, as the company is known, is benefiting from continued demand for advanced A.I. microchips and processors from customers such as Apple (AAPL) and Nvidia (NVDA).
TSMC releases its revenue figures on a monthly basis, which is what this report is based on. The company is scheduled to report its full first-quarter financial results on April 16.
However, management at TSMC said that they expect to exceed their previous 30% annual growth target in 2026.
TSMC manufactures about three-quarters (75%) of the world’s microchips, which are used in everything from consumer electronics to data centres.
The company is known for specializing in the manufacture of the world’s most advanced microchips.
TSMC has also been raising prices for its most advanced microchips, and analysts expect the company to report gross margins of about 65% for the first quarter.
TSM stock has risen 142% in the last 12 months to trade at $365.49 U.S. per share in New York.
