TSMC May sales jump 30% as AI chip demand stays strong

TSMC posted a 30% year-over-year increase in May revenue to NT$416.98 billion, extending a run of strong growth tied to demand for artificial intelligence chips. Combined sales for April and May rose about 24% from the same period a year earlier, based on Bloomberg calculations cited by The Business Times. The Taiwanese chipmaker has become central to the AI buildout as it manufactures advanced semiconductors for Nvidia and Advanced Micro Devices. Chief Executive C.C. Wei told shareholders earlier in June that chip supply is likely to lag demand for years. TSMC also serves smartphone and consumer electronics customers, two markets facing higher memory costs and weaker consumer sentiment.