TSMC Outlook Beats Estimates as AI Demand Helps Propel Business
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TSMC Outlook Beats Estimates as AI Demand Helps Propel Business
(Bloomberg) -- Taiwan Semiconductor Manufacturing Co. expects revenue to rise as much as about 30% this quarter, reflecting a boom in AI development that’s boosting demand for the advanced chips it makes for the likes of Nvidia Corp.Most Read from BloombergDubai Grinds to Standstill as Cloud Seeding Worsens FloodingRed Lobster Considers Bankruptcy to Deal With Leases and Labor CostsTesla Asks Investors to Approve Musk’s $56 Billion Pay AgainElon Wants His Money BackSingapore Loses ‘World’s Best
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TSMC beats first-quarter revenue and profit expectations on strong AI chip demand
TSMC is the world's largest producer of advanced processors and counts companies such as Nvidia and Apple as its clients.
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TSMC hikes revenue target on AI server demand
Taiwan Semiconductor Manufacturing Company issued an optimistic revenue target for the current quarter after reporting a near double-digit rise in net profit in the opening quarter of 2024, fuelled by brisk demand for chips supporting AI applications.