Chip giant TSMC's April revenue jumps 60% on-year

Taiwanese chip giant TSMC said on Friday that April revenue jumped nearly 60 percent on-year, riding a huge wave of demand for the advanced semiconductors used in AI hardware.

Taiwan Semiconductor Manufacturing Company controls more than half the world's output of chips, and supplies them for everything from Apple's iPhones to Nvidia's cutting-edge artificial intelligence hardware.

Consolidated revenue for April was "approximately NT$236.02 billion (US$7.2 billion)... an increase of 59.6 percent from April 2023", the firm said in a statement.

This compares with a 34.3 percent on-year jump in March.

The company said last month that first-quarter revenue increased 13 percent on-year to US$18.87 billion, and expects a 27.6 percent rise in the second.

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