TSMC's April Sales Jump 60% on Sustained Demand for AI Chips

Taiwan Semiconductor Manufacturing Co. (TSMC) reported a 60% increase in April sales, reaching NT$236 billion ($7.3 billion), driven by strong demand for AI chips and a recovery in consumer electronics. TSMC, the world's largest contract chipmaker, exceeded revenue growth estimates for the quarter, with sales up by 34.3% in March.

The company's U.S.-traded shares rose 3% following the announcement. TSMC, which manufactures advanced AI chips for Nvidia and semiconductors for Apple and AMD, is positioned to benefit from the ongoing AI technology surge. Additionally, TSMC's board approved a cash dividend of NT$4 per share.