US-based stocks of Taiwan Semiconductor Manufacturing Company (TSMC) rose by 4% on Thursday as the semiconductor giant surpassed first-quarter earnings forecasts, driven by robust artificial intelligence chip demand. The company's net profit jumped 60.3% year-over-year to $11.1 billion, exceeding analyst predictions of $10.9 billion.
The world's biggest chipmaker kept its mid-20% growth forecast this year, mirroring a goal set in January even after announcing an additional $100 billion investment in US operations last month, a move praised by President Donald Trump in light of his proposed 32% tariff on Taiwanese imports.
The Taiwan-based company's shares added 4.70% at 4:24 am ET, going for $158.80 apiece.
