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## TSMC Forecasts 30% Sales Increase in Second Quarter

TAIPEI (Reuters) – TSMC, the world’s largest chipmaker and a major Apple and Nvidia supplier, is anticipating a surge in second-quarter sales, potentially reaching a 30% increase. This growth is driven by the heightened demand for semiconductors utilized in artificial intelligence (AI) applications.

The skyrocketing need for processors for AI has left executives at Taiwan Semiconductor Manufacturing Co (TSMC) emphasizing the robustness of this demand. Investors closely monitor TSMC as a bellwether for the chip industry.

Shares in TSMC traded in New York saw a slight decline of less than 1% in premarket trading. On the other hand, its Taipei-listed shares, which have already risen by over 30% this year, closed slightly less than 1% higher.

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CEO C.C. Wei highlighted during the company’s first-quarter earnings call that “almost all the AI innovators are working with TSMC to address the insatiable AI-related demand for energy-efficient computing power.” The shift from traditional servers to AI servers is deemed “favorable” to TSMC, indicating a promising future in the AI sector.

TSMC has been able to capitalize on the AI wave to mitigate the decline in COVID-19 pandemic-induced electronics demand and achieve record-high stock performance.

### Expanding AI Server Revenue

According to TSMC, AI servers are expected to contribute to a low-teens percentage of its revenue in 2024, more than doubling from the previous year. This figure is projected to increase to over 20% of revenue by 2028, underscoring the company’s sustained growth in the AI sector.

The usage of AI servers is witnessing robust demand, while the demand for auto chips is expected to decrease this year. TSMC remains optimistic about the prospects for its industry-leading 3nm and 5nm technologies, which are anticipated to drive business growth in the upcoming quarter.

### Future Outlook and Financial Projections

Looking ahead, TSMC maintains its capital spending guidance for the year within the range of $28 billion to $32 billion, with a focus on investing in advanced technologies. The company anticipates revenue to increase in the low- to mid-20% range in U.S. dollar terms by 2024.

Despite the positive financial trajectory, TSMC acknowledges the prevailing macroeconomic and geopolitical uncertainties that could impact consumer confidence and end-market demand. The company remains vigilant in navigating these potential challenges to sustain its growth momentum.

In conclusion, TSMC’s robust performance in the AI sector, coupled with strategic investments in advanced technologies, positions the company for continued success in the evolving semiconductor landscape.

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