TSMC posts fastest monthly revenue growth since 2022 on AI chip boom
Publishing timestamp: 2024-04-10 09:26:46
Summary
TSMC reported a surge in monthly revenue in March, benefiting from the continuing artificial intelligence boom powered by high-end chips. The company's revenue grew by 34.3% year-on-year, marking the fastest pace of growth since November 2022. TSMC is the world's largest contract semiconductor manufacturer, making chips for companies like Apple and Nvidia. The competition in the market is rising, with companies like AMD and Intel launching rival AI chips. TSMC's shares are up nearly 40% this year as investors bet on continued demand for AI chips. Analysts expect TSMC to post a 23.7% rise in total revenue this year.
Sentiment: POSITIVE
Tickers: AMD, 2330-TW, AAPL, INTC, NVDA,
Keywords: taiwan semiconductor manufacturing co ltd, intel corp, nvidia corp, business news, advanced micro devices inc, semiconductor device manufacturing, technology, artificial intelligence, apple inc,