tech
Chip manufacturer raises revenue forecast and promises larger capital investments
Taiwanese TSMC today raised its annual revenue forecast and announced that it is increasing capital investments this year.
TL;DR
- TSMC, the world's largest advanced chip producer, is increasing capital investments to meet high demand.
- The company raised its annual revenue forecast, projecting over 30% growth in USD.
- Capital expenditures will be at the upper end of the previously forecasted range of $52 to $56 billion.
- First-quarter profit jumped 58% to a record NT$572.5 billion ($18.2 billion).
- This marks the eighth consecutive quarter of double-digit profit growth.
- CEO C.C. Wei cited strong AI demand as a key driver, helping to mitigate concerns over geopolitical instability.