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TSMC’s Strong Results is One More Bullish AI Sign
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The latest was chipmaking giant Taiwan Semiconductor Manufacturing Co.’s first-quarter report on Thursday, showing revenue growth of 40.6%, above the top end of its projected range.
Key facts
- It’s little wonder that the big tech stocks have gained a lot of ground since late March—Microsoft, the worst performer so far this year among the big names, is up 18%, for instance, while Nvidia
- The latest was chipmaking giant Taiwan Semiconductor Manufacturing Co.’s first-quarter report on Thursday, showing revenue growth of 40.6%, above the top end of its projected range
- The company raised its full-year growth rate to above 30%
- According to TSMC CEO C.C. Wei, “AI-related demand continues to be extremely robust
Summary
Upbeat signals about the AI business are proliferating. Wei, “AI-related demand continues to be extremely robust.” Wei said he based that assessment both on comments from TSMC’s customers—it makes chips on behalf of various chip designers, led by Nvidia—and on the cloud firms that buy chips from Nvidia. It’s little wonder that the big tech stocks have gained a lot of ground since late March—Microsoft, the worst performer so far this year among the big names, is up 18%, for instance, while Nvidia is up 20%.
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