TSMC AI Demand Strong

TSMC raised its full-year revenue growth forecast to over 30%, signaling strong AI chip demand despite the ongoing Iran war. Q1 gross margin hit 66%, the highest in over 20 years. CEO CC Wei said customers reaffirmed strong AI demand, prompting accelerated investment. Capital expenditures are expected at the higher end of the $52B–$56B range. The smartphone segment declined 11% quarter over quarter.