(Bloomberg) — Taiwan Semiconductor Manufacturing Co.’s May sales rose 30% to NT$229.6 billion ($7.1 billion), driven by booming demand for artificial intelligence and to the trade-in of certain consumer electronic devices.
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The world’s largest contract chipmaker has benefited from a global race to develop AI services, producing semiconductors for Nvidia Corp. which are then sold to companies like Microsoft Corp. and OpenAI. Global smartphone sales also emerged from a long-standing decline in the first three months of the year, fueling expectations of large orders for mobile chips.
Hsinchu-based TSMC has managed to maintain high margins as the world races to build data centers. It is the exclusive manufacturer of Nvidia’s most advanced AI accelerators and also makes semiconductors for Apple Inc. and Advanced Micro Devices Inc., Nvidia’s closest competitor.
This week, TSMC Chairman and CEO CC Wei reiterated his expectations that AI will drive an industry-wide recovery this year.
–With help from Alfred Liu and Twinnie Siu.
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