TSMC Sales Surge on Demand for Chips from Apple and Nvidia, Plans Major U.S. Expansion
• TSMC reported sales growth of 16.5% year-over-year for the March quarter, its fastest growth since 2022 • March sales hit $6.1 billion, up 7.5% from February and 34.3% from last year • TSMC is the main chipmaker for Nvidia and Apple, and its value has doubled since October 2022 • TSMC's AI revenue is expected to grow 50% annually amid high demand • TSMC received $6.6 billion in grants from the CHIPS Act to build chip fabrication plants in the U.S.