Taiwan Semiconductor Manufacturing Company (TSMC) reported first-quarter revenue of NT$1.13 trillion ($35.9 billion), marking a 35% increase compared to the same period last year and surpassing market forecasts.

The strong performance was driven primarily by robust demand for artificial intelligence chips, with March sales showing particularly strong momentum with a 45% year-over-year increase. The surge reflects the ongoing boom in AI-related semiconductor demand as companies across industries invest heavily in AI infrastructure and capabilities.

TSMC, the world's largest contract chipmaker, has positioned itself as a critical supplier for major technology companies developing AI products and services. The company manufactures advanced processors for artificial intelligence applications, benefiting from the rapid expansion of the AI market.

The quarterly results demonstrate TSMC's ability to capitalize on the current AI semiconductor cycle, as demand for high-performance chips continues to outpace supply across the industry. The company's advanced manufacturing capabilities have made it an essential partner for technology firms seeking cutting-edge chip production.