Taiwan Semiconductor Manufacturing Corp, or TSMC (NYSE:TSM), reported a sharp rise in March revenue, driven by strong demand linked to artificial intelligence, reinforcing its position as the world’s leading contract chipmaker.
The strong monthly performance helped lift the company’s total revenue for the first quarter slightly above market expectations.
March revenue climbed 45.2% year on year to T$415.19 billion ($13.07 billion), while also increasing 30.7% compared with February.
For the first quarter, revenue reached T$1.13 trillion, narrowly exceeding Bloomberg forecasts of T$1.12 trillion and marking a significant increase from T$839.25 billion recorded in the same period last year.
TSMC remains a critical supplier to major AI players such as Nvidia, while also producing chips for much of the global smartphone and electronics industry, including key components for Apple devices.
In recent years, growth has been largely fueled by demand for AI-related chips, as investment in artificial intelligence and cloud infrastructure continues to expand, boosting the need for advanced semiconductors.
The company’s shares have more than doubled over the past year, alongside strong earnings growth driven by sustained AI demand.
TSMC is scheduled to release its full first-quarter earnings results on Thursday, April 16.