Taiwan Semiconductor Manufacturing Company posted record first-quarter revenue of NT$1.13 trillion ($35.7 billion), a 35% jump from the same period a year ago. The result landed at the top end of TSMC’s own guidance and beat the Bloomberg consensus estimate.
Why it matters
TSMC manufactures the most advanced chips in the world for companies including Nvidia, AMD, and Apple. Its revenue is a direct measure of global demand for the processors powering artificial intelligence systems.
AI drives the beat
March 2026 set a single-month revenue record of NT$415 billion, up 45% year on year. The surge reflects accelerating orders for AI accelerators as TSMC ramps production of its 2-nanometre (N2) process, the most advanced chip manufacturing technology in commercial use.
Memory shortages weighed on demand from smartphone and PC customers, but AI-related orders more than compensated.
Pricing power
TSMC has raised prices on its most advanced chips, which analysts say was a major factor behind the revenue beat. Gross margins are forecast at 64% for the quarter.
The company’s shares surged past 2,000 New Taiwan dollars for the first time following the results.
Outlook
TSMC expects full-year revenue growth approaching 30% in US dollar terms. Analysts believe the company will comfortably exceed that target if AI infrastructure spending continues at its current pace.
Full first-quarter earnings, including net profit and detailed margin figures, will be reported on 16 April.