TSMC Hammers April Sales Results on AI Chip Demand

Group 1 - Taiwan Semiconductor Manufacturing Co. (TSMC) reported a 59.6% increase in April sales year-over-year, reaching approximately 236 billion New Taiwan dollars ($7.3 billion), with a 20.9% rise from March [1][2] - For the year through April, TSMC's revenue totaled TWD 828.7 billion, reflecting a 26.2% increase compared to 2023 [2] - TSMC's American depositary receipts (ADRs) traded near their all-time high, rising 5% to $149.96, and have increased 44% this year, peaking at $158.40 on March 8 [3] Group 2 - TSMC supplies over half of the world's chips, including to major tech companies like Apple and Nvidia [2] - The U.S. Commerce Department announced a $6.6 billion grant and up to $5 billion in low-cost loans to TSMC for building a second manufacturing plant in Arizona, with TSMC planning to increase its investment to over $65 billion and construct a third plant in the state [2] - U.S. Commerce Secretary Gina Raimondo highlighted the economic implications of a potential Chinese invasion of Taiwan, stating that the seizure of TSMC would be "absolutely devastating" to the U.S. economy, as the U.S. relies on TSMC for 92% of its leading-edge semiconductors [2]