(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.
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The better-than-projected outlook follows its first profit rise in a year, after strong AI demand revived growth at the world’s biggest contract chipmaker. The main chipmaker to Nvidia and Apple Inc. expects revenue of $19.6 billion to $20.4 billion in the June quarter, versus estimates for about $19.1 billion.
Taiwan’s largest company last week disclosed its fastest sales growth since 2022, suggesting demand for the chips that accelerate artificial intelligence development is beginning to offset the fallout from a smartphone market slump. Apple, which accounted for about a quarter of its revenue in 2023, started the year with…
