TSMC's Record Profit Surge Powers High-Tech Chip Demand

Taiwan Semiconductor Manufacturing Co (TSMC) posted a record 58% profit increase for the first quarter, driven by strong demand for AI chips. TSMC's advanced 3-nanometre technology contributed significantly to this growth, despite potential supply chain disruptions due to Middle East tensions. TSMC's shares have risen 35% this year.

TSMC, a leader in advanced AI chip production and major Nvidia supplier, has reported a 58% profit surge in the first quarter, outstripping market expectations.

The Taiwan-based semiconductor giant experienced growth driven by high demand for its 3-nanometre chips, a demand exceeding current production capabilities.

Despite geopolitical tensions threatening material supply chains, TSMC remains poised to continue its expansion, marked by substantial investment in U.S. and Japan-based factories.

(With inputs from agencies.)