TSMC’s Strong Results is One More Bullish AI Sign

Upbeat signals about the AI business are proliferating. The latest was chipmaking giant Taiwan Semiconductor Manufacturing Co.’s first-quarter report on Thursday, showing revenue growth of 40.6%, above the top end of its projected range. The company raised its full-year growth rate to above 30%. According to TSMC CEO C. C. Wei, “AI-related demand continues to be extremely robust.” Wei said he based that assessment both on comments from TSMC’s customers - it makes chips on behalf of various chip designers, led by Nvidia - and on the cloud firms that buy chips from Nvidia.