TSMC's May Sales Soar 30% YoY to $7.1 Billion on Strong Demand for Nvidia's AI Chips and Consumer Electronics Recovery

Benzinga
Benzinga
  • 15 days ago
TSMC's May sales rose 30% year-over-year to $7.1 billion as strong demand for artificial intelligence chips and the recovery of some consumer electronics markets contributed to the sales growth. TSMC is the exclusive manufacturer of Nvidia's most advanced AI chips and also produces chips for Apple, AMD, and other companies. Smartphone sales emerged from a long slump in the first quarter of 2024, increasing expectations for strong orders of mobile chips. TSMC's chairman expects the overall semiconductor industry recovery to continue through 2024, driven by AI development.
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