TSMC is displayed on a phone's screen and microchip and can be seen in this illustration taken in Krakow, Poland on July 19, 2023.
Jakub Purzycki | norphoto | Getty Images
Taiwan Semiconductor Manufacturing Company (TSMC)Amazon reported a rise in monthly revenue in March, as it benefited from an ongoing artificial intelligence (AI) boom powered by cutting-edge chips.
March revenue reached NT$195.2 billion ($6.1 billion), up 34.3% year-on-year – representing the fastest pace of growth since November 2022, TSMC said.
The company's total revenue in the first quarter was NT$592.6 billion, up 16.5% year-on-year.
TSMC is the world's largest semiconductor manufacturer, which makes chips for companies from… apple to Nvidia.
The company is currently benefiting from the artificial intelligence boom. Semiconductors, such as those designed by Nvidia, have fueled the development of artificial intelligence applications.
Competition in the market has increased. AMD It launched a competing chip for Nvidia last year, while… Intel Corporation On Tuesday it removed its latest AI offering.
A number of startups are also working on developing artificial intelligence chips, which TSMC manufactures for some companies.
TSMC shares are up just under 40% this year so far, as investors bet on continued demand for AI chips.
In January, the company said its AI revenue was growing 50% year-over-year. Analysts expect TSMC to post a 23.7% increase in total revenue this year, according to LSEG consensus estimates, after a decline in 2023.
