"TSMC's Strong Q1 Performance Driven by Surging AI Chip Demand"

Taiwan Semiconductor Manufacturing Co Ltd (TSMC) held its Q1 2024 earnings conference call, reporting a 5.3% sequential decrease in revenue impacted by smartphone seasonality but partially offset by continued HPC-related demand. The company expects strong demand for its 3-nanometer and 5-nanometer technologies in Q2 2024, projecting a 6% sequential revenue increase. TSMC's global manufacturing footprint expansion plans include building fabs in Arizona, Japan, and Germany. The company also discussed the impact of an earthquake on its operations and outlined its long-term gross margin and profitability strategies.