Record Earnings and AI Demand Boost TSMC

Taiwan Semiconductor Manufacturing Company (TSMC) saw its US-based stocks climb by 4% in premarket trading on Thursday, following the announcement of first-quarter earnings that exceeded analyst expectations. The semiconductor leader reported a staggering 60.3% year-over-year increase in net profit, reaching $11.1 billion, thanks in large part to soaring demand for artificial intelligence chips.

Steady Growth Amid Significant Investments

Despite its recent announcement of an additional $100 billion investment in US operations, TSMC has reaffirmed its mid-20% growth forecast for the year. This ambitious plan, initially set in January, has garnered praise from former President Donald Trump, especially in the context of his proposed tariffs on Taiwanese imports.

At 4:24 am ET, TSMC's shares were up 4.70%, trading at $158.80 each, signaling strong investor confidence in the company's future.