TSMC Revenue Beats Expectations in Q1 as Demand for AI Chips Fuels Growth

• TSMC's Q1 revenue beat expectations, rising 16.5% year-over-year to $18.86B amid strong demand for AI chips • Sales growth followed 4 straight quarters of declines; March sales jumped 34.3% vs last year
• TSM attributed gains to AI and data center chips offsetting weakness in other areas • Analysts positive - TSMC called "one of the best AI pick-and-shovel stories" and demand intact from Apple • TSM stock rose 1.1% on the news to 146.93, ranking first out of 33 semiconductor manufacturing stocks