TSMC’s Sales Gain 9.4% in First Two Months After AI Boost

TSMC is the main global chipmaker to Apple and Nvidia
Signs are growing that Apple is struggling with iPhone sales

TSMC, the main chipmaker to Nvidia Corp., is riding a wave of activity in artificial intelligence that accelerated after OpenAI rolled out ChatGPT. — TSMC, the main chipmaker to Nvidia Corp., is riding a wave of activity in artificial intelligence that accelerated after OpenAI rolled out ChatGPT.
Photographer: Mike Kai Chen/Bloomberg

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By Jane Lanhee Lee

March 8, 2024 at 6:01 AM UTC

This article is for subscribers only.

Taiwan Semiconductor Manufacturing Co.’s revenue rose 9.4% in 2024’s first two months, riding a wave of global AI development that’s helping offset potential fallout from slowing iPhone sales.

Asia’s largest company reported sales of NT$397.4 billion ($12.6 billion) from January to February. That’s despite signs that Apple Inc., which accounted for 25% of its business last year, is struggling to sustain momentum for the iPhone particularly in China.