AI demand drives chipmaker TSMC's net profit to fresh record
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TSMC's net profit reached a record high in the first quarter of 2026, driven by massive demand for AI hardware. The company's revenue rose 35.1% year-on-year, exceeding analyst estimates.
Taiwanese chip manufacturer TSMC reported a record net profit for the first quarter of 2026, driven by surging demand for AI hardware. Net profit rose 58.3% to NT$572.5 billion ($18 billion), surpassing analyst estimates. Revenue increased 35.1% year-on-year to NT$1.13 trillion. TSMC is the world's largest contract chipmaker, supplying chips for AI accelerators, smartphones, and data centers. The company expects no near-term impact from the Middle East conflict on its chipmaking material supply. Demand for AI tools is driving investment in new data centers, with governments and tech giants pouring hundreds of billions of dollars into the sector.
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