TSMC Quarterly Profits Rising on Robust AI Chip Demand
- TSMC's first-quarter profit expected to rise 5% to $6.71B on strong AI chip demand
- TSMC is world's largest contract chipmaker with customers like Apple and Nvidia
- Benefited from surge in AI amid tapering pandemic-driven electronics demand
- Reported 16.5% rise in first-quarter revenue, beating expectations
- Demand outlook boosted by $6.6B in subsidies for new TSMC plants in Arizona