TSMC Beats Q1 Expectations with Revenue Growth Fueled by AI Demand, Sending Stock to Record High
- TSMC reported 16.5% revenue growth in Q1 2022 to $18.54 billion, beating expectations
- Growth driven by strong demand for AI applications
- Revenue was towards upper end of TSMC's $18-18.8 billion guidance
- TSMC's stock price hit a record high due to AI demand
- Analysts estimate 4% rise in Q1 net profit for TSMC