TSMC Raises Revenue Forecast and Increases Capital Spending to Meet AI Chip Demand
TSMC has raised its annual revenue forecast and increased capital spending to meet strong demand for AI chips. The company reported a 58% increase in first-quarter profit to $18.2 billion, exceeding expectations and marking its eighth consecutive quarter of double-digit growth. CEO C.C. Wei emphasized continued robust AI-related demand and plans to expand 3-nm production capacity across multiple regions.
Topics: AI chip demand capital spending Nvidia revenue forecast semiconductor industry TSMC