Taiwanese TSMC’s quarterly revenue exceeded analysts’ forecasts, up 16.5%

The revenue of the Taiwanese company TSMC in the first quarter of 2024 grew at the fastest pace in more than a year. This reinforced expectations that the global surge in the development of artificial intelligence is driving demand, particularly for high-end chips. Bloomberg writes about it.

TSMC reported a 16.5% year-on-year increase in revenue to NT$592.6 billion ($18.5 billion) in January-March this year.

The result exceeded market expectations – analysts had forecast the company’s revenue at NT$579.5 billion. TSMC’s detailed report is expected to be released on April 18.

Earlier it became known that TSMC received $6.6 billion in grants and another $5 billion in loans to build another plant in the United States. This will allow the company to build a third chip fab in Arizona.

The future facility will focus on the production of chips using next-generation 2-nanometer technology and will be operational by the end of the decade.