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Chip giant TSMC's April revenue jumps 60% on-year

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TAIPEI – Taiwanese chip giant TSMC said on Friday that April revenue jumped nearly 60 percent on-year, riding a huge wave of demand for the advanced semiconductors used in AI hardware.

Taiwan Semiconductor Manufacturing Company controls more than half the world's output of chips, and supplies them for everything from Apple's iPhones to Nvidia's cutting-edge artificial intelligence hardware.Consolidated revenue for April was 'approximately NT$236.02 billion ... an increase of 59.6 percent from April 2023,' the firm said in a statement.This compares with a 34.3 percent on-year jump in March.

The United States in particular has made a huge push, passing the Chips and Science Act in 2022 to overhaul the semiconductor industry on American soil.US Commerce Secretary Gina Raimondo said Wednesday during a US House hearing on the department's budget that an invasion of Taiwan by China and a seizure of TSMC would be 'absolutely devastating' to the American economy.'Right now, the United States buys 92 percent of its leading edge chips from TSMC in Taiwan,' she said.

Source: Tech Daily Report (techdailyreport.net)

Giant TSMC's April Revenue Jumps 60% On-Year

 

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