AI Chip Boom Drives Q1 Sales Beat For Taiwan Semiconductor Manufacturing

Taiwan Semiconductor Manufacturing (TSM) on Wednesday topped expectations for first-quarter sales thanks to booming demand for artificial intelligence chips. But TSM stock wavered on the news.X The world's largest chip foundry, better known as TSMC, said its March-quarter sales rose 16.5% year over year in local currency. Analysts had been looking for a 13.9% increase in revenue.TSMC generated the equivalent of $18.86 billion in March-quarter sales, vs. estimates for $18.26 billion. In the year-earlier peri ...