Chip manufacturer TSMC recorded 16.5 percent higher turnover in the first quarter of 2024 than in the same quarter the year before. According to TSMC, sustained demand for chips for AI applications has led to the positive figures. Net profit rose by just under 9 percent in the same period, according to TSMC's most recent quarterly figures. This is partly because the Taiwanese company spent almost twice as much on R&D and other long-term investments. Total turnover amounted to more than 17.7 billion euros in the first quarter of 2024, while net income amounted to more than 6.7 billion euros.
According to company estimates, the increase in turnover and profit in the coming months, with an expected turnover of between 18.3 and 19.1 billion euros in the third quarter of this year. CEO C.C. Wei emphasizes that geopolitical uncertainty and lower demand for consumer tech products could influence these figures. The company is still investing heavily in production capacity; this year around 28 billion euros will be spent on this.