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Taiwan Semiconductor Manufacturing Company reported strong first-quarter earnings.
TSMC posted a record net income of $18.2 billion for Q1 2024, up 58% year-on-year.
KEY POINTS
- Nvidia has become TSMC's largest customer due to surging demand for AI processors.
- 3-nanometer chips now account for 25% of TSMC's wafer revenue, indicating rapid node migration.
- TSMC expects 2026 full-year revenue to grow over 30%, a higher outlook than previously indicated.
- Despite Middle East supply concerns, TSMC anticipates no near-term disruptions due to diversified sourcing.
COMPANIES
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