TSMC jumps 58% after beating Q1 estimates on strong AI demand

Taiwan Semiconductor (TSM) rose over 1% after beating Q1 estimates with revenue up 35% to $1.134 trillion and net income up 58% to NT$572.48 billion. Strong demand for 3nm chips and HPC, which drove 61% of revenue, fuelled growth. Advanced nodes contributed 74% of wafer revenue. North America generated 76% of sales.