TSMC’s sales surge most since 2022 after riding AI chip boom

News Snapshot:

(Bloomberg) — Taiwan Semiconductor Manufacturing Co.’s quarterly revenue grew at its fastest pace in more than a year, shoring up expectations that a global boom in AI development is fueling demand for high-end chips and servers. Most Read from Bloomberg The main chipmaker to Nvidia Corp. and Apple Inc. reported a better-than-expected 16% rise in March-quarter sales to about NT$592.6 billion ($18.5 billion), versus the NT$579.5 billion average projection. That outperformance lends weight to expectations that the world’s most valuable chipmaker will return to solid growth this year after weathering a post-Covid cratering of smartphone and computer sales. TSMC is...