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Major AI boom boosts Taiwan’s chip giant TSMC

The boom in specialty chips for artificial intelligence (AI) has given Taiwanese semiconductor manufacturer TSMC a tailwind: Sales soared significantly in the first quarter of the year.

Sales increased by 16.5 percent to 592.64 billion Taiwan dollars (17 billion euros) in the quarter, exceeding market expectations and at the upper end of the company's forecast, as the world's largest chip contract manufacturer announced on Wednesday.

In March alone, the revenues of the supplier to Apple and Nvidia shot up by 34.3 percent to 195.21 billion Taiwan dollars. The full quarterly results are to be published on April 18.